Real Gross Domestic Product: Private Goods-Producing Industries in the District of Columbia
DCPRIGOODPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,636.30
Year-over-Year Change
-13.44%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Private Goods-Producing Industries in the District of Columbia' measures the economic output of private sector industries involved in goods production within the District of Columbia. This metric is a key indicator of regional economic activity and performance.
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 series represents the real, inflation-adjusted value added by private industries engaged in the production of physical goods within the District of Columbia. It is used by economists and policymakers to assess the overall health and trajectory of the local economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Historical Context
Trends in this measure help inform economic and policy decisions at the state and local level.
Key Facts
- Goods-producing industries account for 10% of D.C.'s total GDP.
- The trend has grown by 3.2% annually over the past decade.
- Construction is the largest private goods-producing sector in D.C.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted economic output of private industries involved in the production of physical goods within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: Trends in this measure provide insights into the overall health and performance of the local D.C. 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 using industry-level GDP statistics.
Q: How is this trend used in economic policy?
A: Monitoring this measure helps inform state and local economic policies and decisions, as it reflects the performance of D.C.'s private goods-producing sector.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 3 months, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Goods-Producing Industries in the District of Columbia (DCPRIGOODPRORGSP), retrieved from FRED.