Gross Domestic Product: Health Care and Social Assistance (62) in the District of Columbia
DCHLTHSOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,669.40
Year-over-Year Change
68.15%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the health care and social assistance sector in the District of Columbia. It provides insights into the productivity and economic impact of this crucial industry within the local economy.
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
The Gross Domestic Product: Health Care and Social Assistance (62) in the District of Columbia series represents the total economic output generated by the health care and social assistance industry in the region. This data point is an important indicator of the sector's relative size, growth, and contribution to the overall economic performance of the District.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to evaluate the health and competitiveness of the District's health care industry and its role in the local economy.
Key Facts
- The health care and social assistance sector accounts for a significant portion of the District's GDP.
- This trend has shown steady growth over the past decade, reflecting the sector's importance to the local economy.
- The District's health care industry is a major employer and attracts significant investment and innovation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the health care and social assistance sector in the District of Columbia, providing insights into the productivity and economic impact of this crucial industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for policymakers and analysts to evaluate the health and competitiveness of the District's health care industry and its role in the local economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the performance and contribution of the health care sector to the overall economic performance of the District of Columbia.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as other GDP-related statistics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Health Care and Social Assistance (62) in the District of Columbia (DCHLTHSOCASSNGSP), retrieved from FRED.