Gross Domestic Product: Construction (23) in Washington
WACONSTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,996.90
Year-over-Year Change
15.64%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Construction (23) in Washington measures the economic output of the construction industry in the state. This metric is a key indicator of regional economic activity and investment.
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 Gross Domestic Product: Construction (23) in Washington represents the value-added output of the construction sector, including residential, commercial, and infrastructure projects. It is a component of the broader state GDP and provides insight into the construction industry's contribution to the overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this metric to assess the health and outlook of the Washington construction industry and broader state economy.
Key Facts
- Washington's construction GDP in 2022 was $38.9 billion.
- The construction sector accounts for 5.2% of Washington's total GDP.
- Construction GDP in Washington grew by 2.8% in 2021.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Construction (23) in Washington measures the economic output of the construction industry in the state, including residential, commercial, and infrastructure projects.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and outlook of the construction industry, which is a key driver of economic activity and investment in Washington.
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: Policymakers and analysts use this metric to assess the state of the Washington construction industry and broader economy, informing policy decisions and economic forecasts.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a lag of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Construction (23) in Washington (WACONSTNQGSP), retrieved from FRED.