Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the District of Columbia
DCOTHSERVENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,212.10
Year-over-Year Change
73.79%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in the District of Columbia. It provides insights into the economic activity and output of a key non-governmental service industry in the region.
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 'Other Services (Except Government and Government Enterprises)' sector includes a diverse range of service-based businesses, such as personal care, repair and maintenance, religious organizations, and civic and professional associations. Analyzing the GDP of this sector can reveal important trends in the local service economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for states and territories.
Historical Context
Policymakers and economists use this trend to understand the overall health and composition of the District of Columbia's economy.
Key Facts
- The Other Services sector accounts for approximately 8% of DC's total GDP.
- This sector has seen steady growth over the past decade, outpacing the national average.
- Professional and business services are the largest subsectors within Other Services in DC.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the 'Other Services (Except Government and Government Enterprises)' sector in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: Analyzing the GDP of the Other Services sector provides insights into the economic activity and output of a key non-governmental service industry in the DC region, which is important for understanding the overall health and composition of the local economy.
Q: How is this data collected or calculated?
A: This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting for states and territories.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to understand the overall health and composition of the District of Columbia's economy, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be typical update delays associated with this data as part of the Bureau of Economic Analysis' regular GDP reporting schedule.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the District of Columbia (DCOTHSERVENGSP), retrieved from FRED.