Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Delaware
Annual, Not Seasonally Adjusted
DEACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.23
Year-over-Year Change
25.73%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the total dollar value of goods and services produced annually in the United States, a key indicator of economic growth and performance.
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 nominal Gross Domestic Product (GDP), which captures the market value of all final goods and services produced within a country in a given year. It is a comprehensive measure of economic activity used by policymakers, analysts, and businesses to assess the overall health of the U.S. economy.
Methodology
GDP data is collected by the U.S. Bureau of Economic Analysis through surveys, tax records, and other statistical sources.
Historical Context
Annual GDP growth is closely monitored by the Federal Reserve and other institutions to inform economic, monetary, and fiscal policies.
Key Facts
- GDP reached a record high of $23.9 trillion in 2021.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- GDP per capita is a common measure of a country's standard of living.
FAQs
Q: What does this economic trend measure?
A: This series measures the total value of goods and services produced in the United States over the course of a year, known as Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of economic performance and growth, providing insights into the overall health of the U.S. economy. It is closely tracked by policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects GDP data through surveys, tax records, and other statistical sources.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve and other institutions monitor GDP growth to inform decisions on monetary, fiscal, and economic policies.
Q: Are there update delays or limitations?
A: The GDP data is released quarterly with a delay of approximately one month, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (DEACCFDQGSP), retrieved from FRED.