Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia
DCFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.10
Year-over-Year Change
18.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industries in the District of Columbia. It provides insights into the performance and productivity of a key 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: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia series tracks the inflation-adjusted output of these manufacturing industries, which are important contributors to the local economy. This metric is used by economists and policymakers to assess the health and competitiveness of the District's manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the broader economic conditions and policy environment in the District of Columbia.
Key Facts
- The manufacturing sector accounts for over 3% of D.C.'s GDP.
- Food and beverage manufacturing is the largest component of D.C.'s manufacturing base.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industries 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 key sector of the D.C. economy, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the broader economic conditions and policy environment in the District of Columbia, including the competitiveness of the local manufacturing base.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the statistical agency, and there may be reporting lags of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in the District of Columbia (DCFOODBEVTOBMANRGSP), retrieved from FRED.