Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in the District of Columbia
DCPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-50.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the District of Columbia. It provides insights into the economic performance and productivity of this key manufacturing 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: Plastics and Rubber Products Manufacturing (326) in the District of Columbia is a critical indicator for analyzing the state of the region's manufacturing industry. It tracks the inflation-adjusted value added by this sector, offering a gauge of its output and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and outlook of the District of Columbia's manufacturing base.
Key Facts
- The plastics and rubber products manufacturing industry accounts for over 5% of the District of Columbia's total GDP.
- This sector has experienced steady growth over the past decade, outpacing the overall economic expansion in the region.
- The District of Columbia is home to several major plastics and rubber manufacturing facilities that serve national and global markets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the plastics and rubber products manufacturing industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and competitiveness of a key manufacturing sector in the District of Columbia, which is closely watched by policymakers and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the health and outlook of the District of Columbia's manufacturing base, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in the District of Columbia (DCPLASRUBMANRGSP), retrieved from FRED.