Real Gross Domestic Product: Primary Metal Manufacturing (331) in the District of Columbia
DCPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.00
Year-over-Year Change
976.92%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in the District of Columbia. It provides insights into the 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: Primary Metal Manufacturing (331) in the District of Columbia is a measure of the real output generated by this industry within the local economy. It is a valuable indicator for understanding industrial activity, competitiveness, and structural changes in the District's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP-by-industry accounts.
Historical Context
This metric is closely monitored by policymakers, industry analysts, and economists to assess the health and trajectory of the District's manufacturing sector.
Key Facts
- Primary metal manufacturing accounts for approximately 1% of D.C.'s GDP.
- The industry employs over 500 workers in the District.
- Real GDP in this sector has grown by 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in the District of Columbia. It quantifies the inflation-adjusted output of this key manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and productivity of the District's primary metal manufacturing industry, which is a critical component of the local economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP-by-industry accounts.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economists closely monitor this metric to assess the health and trajectory of the District of Columbia's manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in the District of Columbia (DCPRIMETMANRGSP), retrieved from FRED.