Gross Domestic Product: State and Local in the District of Columbia
DCGOVSLNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,101.90
Year-over-Year Change
73.31%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: State and Local in the District of Columbia metric measures the total value of goods and services produced by state and local governments within the District. This data point is an important indicator of economic activity and fiscal health in the nation's capital.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the value added by state and local government activities in Washington, D.C. as part of the total GDP. It is used by economists and policymakers to assess the size and performance of the public sector in the District's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
State and local government GDP data provides context for evaluating fiscal and economic policy decisions in the District of Columbia.
Key Facts
- GDP from state/local government in DC was $21.5 billion in 2021.
- State and local GDP accounts for over 12% of total DC economic output.
- The public sector in DC has grown faster than the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value added by state and local government activities as part of the overall gross domestic product in Washington, D.C.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the size and performance of the public sector in the District's economy, which is crucial for evaluating fiscal policy and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: State and local government GDP data is used by economists and policymakers to assess the fiscal health and economic impact of the public sector in Washington, D.C.
Q: Are there update delays or limitations?
A: This data is published on a quarterly basis by the Bureau of Economic Analysis, with a typical release lag of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: State and Local in the District of Columbia (DCGOVSLNGSP), retrieved from FRED.