Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in the District of Columbia
DCRENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
232.80
Year-over-Year Change
9.71%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in the District of Columbia. It provides insights into the performance and growth of this crucial sector of 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 Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in the District of Columbia series tracks the inflation-adjusted output of businesses engaged in renting, leasing, or licensing the use of assets such as real estate, equipment, and intellectual property. This data is used by economists and policymakers to analyze the strength and dynamics of the District's service-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and administrative records.
Historical Context
This economic indicator is relevant for understanding the District of Columbia's commercial real estate market and the broader trends in the region's service-oriented economy.
Key Facts
- The rental and leasing services sector accounts for approximately 2% of the District of Columbia's GDP.
- This industry has experienced steady growth in recent years, outpacing the overall economy.
- The performance of this sector is closely tied to trends in the District's commercial real estate market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and growth of a crucial sector of the District of Columbia's service-based economy, which is important for understanding the local commercial real estate market and broader economic conditions.
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 variety of sources, including business surveys and administrative records.
Q: How is this trend used in economic policy?
A: This indicator is used by economists and policymakers to analyze the strength and dynamics of the District of Columbia's service-oriented economy, which can inform decisions related to commercial real estate, economic development, and other policy areas.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the U.S. Bureau of Economic Analysis, which may result in some delay in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in the District of Columbia (DCRENTRGSP), retrieved from FRED.