Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in the District of Columbia
DCINSCRAQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.29
Year-over-Year Change
53.62%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in the District of Columbia measures the real output of the insurance industry in the District. This metric is a key indicator of economic activity and performance in the insurance sector.
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 index tracks the quantity or volume of goods and services produced by insurance companies and related activities in the District of Columbia, adjusted for inflation. It provides a measure of the industry's real economic contribution over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other economic indicators.
Historical Context
Policymakers and analysts use this metric to gauge the health and growth of the insurance industry, which is an important component of the District's economy.
Key Facts
- The index has a base year of 2012.
- Insurance is a major industry in the District, accounting for over 5% of GDP.
- The index is updated quarterly by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output or production volume of the insurance industry in the District of Columbia, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: The insurance industry is a significant component of the District's economy, so this metric provides important insights into the performance and growth of this sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using survey information and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the health and growth of the insurance industry, which informs economic and regulatory decisions.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Bureau of Economic Analysis, so there may be a short delay in the most recent data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Insurance Carriers and Related Activities (524) in the District of Columbia (DCINSCRAQGSP), retrieved from FRED.