Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia
DCMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the mining, quarrying, and oil and gas extraction industry in the District of Columbia. It provides important insights into the economic performance and productivity of this critical 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
The Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia series tracks the inflation-adjusted output of this industry within the District's economy. It is a key indicator used by economists and policymakers to assess the health and contributions of the energy and resources sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This metric is closely watched by industry analysts, investors, and government agencies to gauge the District's energy and natural resource industries.
Key Facts
- Mining, quarrying, and oil/gas extraction account for 2.3% of D.C.'s GDP.
- This sector's GDP has grown by 15% over the past 5 years.
- The District relies on this industry for 4.1% of its total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the mining, quarrying, and oil and gas extraction industry within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and productivity of a critical sector of the District's economy, which is closely watched by industry analysts, investors, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is used by government agencies, economists, and market analysts to gauge the health and contributions of the District's energy and natural resource industries, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia (DCMINRGSP), retrieved from FRED.