Real Gross Domestic Product: Private Services-Providing Industries in the District of Columbia
DCPRISERVPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101,796.40
Year-over-Year Change
28.70%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of private service-providing industries in the District of Columbia. It is a key indicator of economic activity and productivity in the region's service sector.
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: Private Services-Providing Industries in the District of Columbia measures the total output of private service-providing industries, adjusted for inflation, within the District of Columbia's economy. This data point is used by economists and policymakers to gauge the overall health and growth of the service sector in the region.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
This trend provides important context for understanding broader economic conditions and trends in the District of Columbia and is used to inform fiscal and monetary policy decisions.
Key Facts
- Measured in chained 2012 dollars.
- Covers a wide range of private service-providing industries.
- Reflects overall productivity and growth in the D.C. service sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of private service-providing industries within the District of Columbia's economy.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health and growth of the service sector, which is a critical component of the D.C. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to inform fiscal and monetary policy decisions affecting the District of Columbia.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Services-Providing Industries in the District of Columbia (DCPRISERVPRORGSP), retrieved from FRED.