Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in the District of Columbia
DCPRIGOODPROQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.37
Year-over-Year Change
-13.44%
Date Range
1/1/1997 - 1/1/2024
Summary
This index measures the real output of private goods-producing industries in the District of Columbia, providing insights into the region's economic performance and production capacity.
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 Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in the District of Columbia is an economic indicator that tracks the inflation-adjusted output of private sector industries engaged in goods production within the District. It is used to assess trends in industrial activity and economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Historical Context
This index is relevant for policymakers, analysts, and businesses seeking to understand regional economic conditions and inform decisions.
Key Facts
- The index uses 2012 as the base year.
- It covers industries such as manufacturing, mining, and construction.
- The index can signal shifts in the region's economic structure and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of private sector industries engaged in goods production within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the performance and growth of the District's industrial sector, which is crucial for understanding regional economic conditions and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess trends in the District's industrial activity and economic growth, which can inform decisions related to economic development, infrastructure investment, and other policy initiatives.
Q: Are there update delays or limitations?
A: The index is updated regularly by the U.S. Bureau of Economic Analysis, but may be subject to revisions and data lags typical of economic statistics.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Private Goods-Producing Industries in the District of Columbia (DCPRIGOODPROQGSP), retrieved from FRED.