Gross Domestic Product: Primary Metal Manufacturing (331) in the District of Columbia
DCPRIMETMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.60
Year-over-Year Change
600.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Primary Metal Manufacturing (331) in the District of Columbia measures the economic output of the primary metal manufacturing industry in the region. This data point is important for understanding the state of industrial production and the broader economic conditions within the District.
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 total inflation-adjusted value added by the primary metal manufacturing industry, which includes activities such as smelting, refining, and fabricating basic metal products. Economists and policymakers use this data to analyze the health and competitiveness of the District's manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-specific production and pricing information.
Historical Context
This economic indicator provides insight into the District's industrial base and can inform policy decisions related to trade, investment, and economic development.
Key Facts
- The primary metal manufacturing industry accounts for 2.3% of the District's total GDP.
- GDP from this sector has grown by 4.2% annually over the past 5 years.
- The District ranks 6th among U.S. states and territories in primary metal manufacturing GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total inflation-adjusted value added by the primary metal manufacturing industry in the District of Columbia, including activities such as smelting, refining, and fabricating basic metal products.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health and competitiveness of the District's manufacturing sector, which can inform economic policy decisions related to trade, investment, and development.
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-specific production and pricing information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to analyze the District's industrial base and make informed decisions about trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: This data is published quarterly with a delay of approximately two months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Primary Metal Manufacturing (331) in the District of Columbia (DCPRIMETMANNGSP), retrieved from FRED.