Gross Domestic Product: Private Goods-Producing Industries in the District of Columbia
DCPRIGOODPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,397.10
Year-over-Year Change
50.70%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Private Goods-Producing Industries in the District of Columbia' series measures the total value of goods produced by private industries in Washington, D.C. This metric provides insight into the economic activity and productivity of the region's private 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
This trend represents the inflation-adjusted, annualized value of goods produced by private industries in the District of Columbia, excluding services. It is a key indicator of the district's economic health and can inform policymakers and analysts about growth and development in the region.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using information from surveys and administrative records.
Historical Context
This metric is used by economists, policymakers, and businesses to assess the economic performance and competitiveness of the District of Columbia.
Key Facts
- The District of Columbia's private goods-producing GDP was $3.2 billion in 2021.
- Private goods-producing industries account for approximately 2% of D.C.'s total GDP.
- The trend has shown modest growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods produced by private industries in the District of Columbia, excluding services. It provides insight into the economic activity and productivity of the region's private sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic health and competitiveness of the District of Columbia. It can inform policymakers, businesses, and economists about growth and development in the region.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using information from surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to assess the economic performance and competitiveness of the District of Columbia. It can inform decisions and policies related to economic development, taxation, and investment.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months. There may be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Goods-Producing Industries in the District of Columbia (DCPRIGOODPRONGSP), retrieved from FRED.