Real Gross Domestic Product: Machinery Manufacturing (333) in the District of Columbia
DCMACHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.40
Year-over-Year Change
833.33%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the District of Columbia. It provides insights into the health and productivity of this key manufacturing sector 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 Real Gross Domestic Product: Machinery Manufacturing (333) in the District of Columbia metric tracks the inflation-adjusted output of machinery manufacturers in the District. This data series is useful for analyzing the competitiveness and growth dynamics of the local machinery industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Economists and policymakers monitor this trend to gauge the District's industrial performance and inform economic development strategies.
Key Facts
- The District of Columbia accounts for 0.2% of total U.S. machinery manufacturing GDP.
- This industry contributed $419 million to the District's economy in 2021.
- Machinery manufacturing GDP in the District has grown by 3.7% annually since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and productivity of a key manufacturing sector in the District's economy, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methodologies.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to gauge the District's industrial competitiveness and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Machinery Manufacturing (333) in the District of Columbia (DCMACHMANRGSP), retrieved from FRED.