Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in the District of Columbia
DCTEXTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.60
Year-over-Year Change
283.33%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of textile mills and textile product mills in the District of Columbia. It provides insights into the performance and productivity of this specific manufacturing sector 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 Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in the District of Columbia series tracks the inflation-adjusted output of this industry group. It is used by economists and policymakers to analyze regional economic trends and the relative strength of different manufacturing sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government surveys and administrative records.
Historical Context
This metric helps inform decisions related to economic development, trade, and industry-specific policies in the District of Columbia.
Key Facts
- The District of Columbia's textile industry accounts for a small but meaningful portion of its overall economic output.
- This metric tracks the industry's productivity, adjusting for inflation to show real changes over time.
- Trends in this data can signal shifts in the competitive position of D.C.'s textile manufacturers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of textile mills and textile product mills located in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and productivity of a specific manufacturing sector within the D.C. economy, which can inform economic development and industry-focused policies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using government surveys and administrative records.
Q: How is this trend used in economic policy?
A: Trends in this data can help policymakers and economists analyze the competitiveness and growth potential of D.C.'s textile manufacturing industry, informing decisions related to economic development, trade, and industry-specific policies.
Q: Are there update delays or limitations?
A: This data is subject to periodic revisions and may have publication lags compared to other economic indicators.
Related Trends
Number of Identified Exporters to Austria from District of Columbia
DCAUTA475SCEN
Gross Domestic Product: Furniture and Related Product Manufacturing (337) in the District of Columbia
DCFURNMANNGSP
Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for District of Columbia
DCPCEPCCLTH
Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in the District of Columbia
DCRERENTLEAQGSP
Average Weekly Earnings of All Employees: Professional and Business Services in the District of Columbia
SMU11000006000000011A
Real Personal Income: Metropolitan Portion for District of Columbia
DCMPRPI
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in the District of Columbia (DCTEXTRGSP), retrieved from FRED.