Real Gross Domestic Product: Health Care and Social Assistance (62) in the District of Columbia
DCHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,124.40
Year-over-Year Change
8.37%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the health care and social assistance sector in the District of Columbia. It provides insights into the economic performance and growth of this critical industry.
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 real GDP for the health care and social assistance industry in D.C. represents the total inflation-adjusted value of goods and services produced by this sector. It is a key indicator of the industry's economic activity and contribution to the broader D.C. economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Policymakers and industry analysts closely monitor this trend to understand the economic dynamics of the health care sector and inform policy decisions.
Key Facts
- The health care and social assistance sector accounts for about 30% of D.C.'s total GDP.
- This trend has shown steady growth over the past decade, reflecting the importance of the industry to the local economy.
- The COVID-19 pandemic had a significant impact on the sector, leading to a sharp decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the health care and social assistance sector in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of the health care industry, which is a critical sector for the D.C. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this trend to understand the economic dynamics of the health care sector and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in the District of Columbia (DCHLTHSOCASSRQGSP), retrieved from FRED.