Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the District of Columbia
DCOTHSERVERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,624.40
Year-over-Year Change
0.23%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures real gross domestic product (GDP) in the Other Services (Except Government and Government Enterprises) sector for the District of Columbia. It provides insight into the performance and contribution of this service-based industry to 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 Other Services (Except Government and Government Enterprises) sector includes a wide range of personal and professional services, from automotive repair and maintenance to personal care and laundry services. Tracking the real GDP of this sector helps economists and policymakers understand the District of Columbia's economic composition and growth dynamics.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This metric is used to inform economic policy decisions and monitor the health of the District of Columbia's service-based economy.
Key Facts
- The Other Services sector accounts for approximately 8% of the District of Columbia's GDP.
- This sector has experienced steady growth in recent years, outpacing the national average.
- The District of Columbia has a higher concentration of other services jobs compared to the national level.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real 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: Tracking the real GDP of the Other Services sector provides insight into the performance and contribution of this service-based industry to the District of Columbia's economy, which is useful for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This metric is used to inform economic policy decisions and monitor the health of the District of Columbia's service-based economy.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the Bureau of Economic Analysis' regional GDP estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the District of Columbia (DCOTHSERVERGSP), retrieved from FRED.