Gross Domestic Product: Educational Services (61) in the District of Columbia
DCEDCATNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,334.30
Year-over-Year Change
37.83%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Educational Services (61) in the District of Columbia measures the economic output of the educational services sector in Washington, D.C. This indicator is important for understanding regional economic trends and the contribution of the education industry to 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
This series represents the inflation-adjusted gross domestic product (GDP) generated by the educational services sector (NAICS code 61) within the District of Columbia. It provides insight into the size and growth of the education industry's economic activity in the nation's capital.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and economists use this metric to analyze the health and importance of the education sector in the District of Columbia's economy.
Key Facts
- The educational services sector accounts for over 5% of D.C.'s total GDP.
- GDP in D.C.'s educational services industry has grown by 15% over the past decade.
- D.C. has the highest concentration of educational services employment in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the educational services sector in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and economic importance of the education industry in D.C., which is a major employer and contributor to 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 using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the health and significance of the education sector in the District of Columbia's economy.
Q: Are there update delays or limitations?
A: There may be a 1-2 quarter delay in the availability of this data due to the time required for collection and processing by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Educational Services (61) in the District of Columbia (DCEDCATNGSP), retrieved from FRED.