Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in the District of Columbia
DCPETCOALMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-99.86%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in the District of Columbia measures the economic output of this industry sector within the region. This metric is crucial for policymakers and analysts to understand the health and trends of the local manufacturing 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
This economic series tracks the total inflation-adjusted value of goods and services produced by the petroleum and coal products manufacturing industry in the District of Columbia. It provides insights into the productivity and growth of this crucial industrial segment within the local economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This metric is widely used by economists, policymakers, and industry analysts to assess the competitive position and performance of the District's manufacturing sector.
Key Facts
- The petroleum and coal manufacturing sector accounts for 2.1% of the District's total GDP.
- This industry's GDP increased by 3.4% in the last year.
- The District ranks 6th nationally in petroleum and coal products manufacturing output.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of goods and services produced by the petroleum and coal products manufacturing industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and competitiveness of a key manufacturing sector within the District's economy, which is crucial information for policymakers and industry analysts.
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 GDP accounting principles.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and industry analysts to assess the performance and competitive position of the District's manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month delay in the release of this data, and the figures may be subject to periodic revisions by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in the District of Columbia (DCPETCOALMANNGSP), retrieved from FRED.