Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in the District of Columbia
DCRENTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
277.40
Year-over-Year Change
30.23%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets sector in the District of Columbia. It provides insights into the performance and contributions of this key service industry within the local economy.
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 Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (NAICS 532-533) sector includes businesses that rent, lease, or license tangible or intangible assets to others. This metric helps analysts and policymakers understand the economic health and productivity of this critical service industry in the District of Columbia.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is used by economists, investors, and policymakers to assess the overall state of the District of Columbia's economy and identify growth opportunities or potential vulnerabilities in the rental and leasing services sector.
Key Facts
- The rental and leasing services sector accounts for over 2% of the District of Columbia's GDP.
- This industry has experienced steady growth in recent years, outpacing the overall D.C. economy.
- The District of Columbia has a higher concentration of rental and leasing businesses compared to the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets sector in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and contributions of a key service industry within the District of Columbia's economy, helping analysts and policymakers assess economic health and identify growth opportunities.
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 its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists, investors, and policymakers to assess the overall state of the District of Columbia's economy and identify growth opportunities or potential vulnerabilities in the rental and leasing services sector.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and methodological limitations of the U.S. Bureau of Economic Analysis's regional GDP estimates.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in the District of Columbia (DCRENTNGSP), retrieved from FRED.