Real Gross Domestic Product: Accommodation and Food Services (72) in Delaware
DEACCFDRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,747.80
Year-over-Year Change
25.73%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the accommodation and food services sector in Delaware. It provides insight into the economic performance and growth of this key industry within the state.
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 GDP for the accommodation and food services sector in Delaware represents the total value of goods and services produced, adjusted for inflation. This metric is used by economists and policymakers to analyze the state's economic conditions and make informed decisions.
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 health of Delaware's service-based economy and consumer spending patterns.
Key Facts
- Delaware's accommodation and food services sector accounts for approximately 4% of the state's total GDP.
- This trend has shown steady growth over the past decade, reflecting the state's thriving tourism and hospitality industries.
- The COVID-19 pandemic led to a significant decline in this metric in 2020 due to lockdowns and travel restrictions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the accommodation and food services sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of a key industry within Delaware, which is important for understanding the state's overall economic conditions and consumer spending patterns.
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 economists use this trend to analyze the health of Delaware's service-based economy and make informed decisions about economic policies and initiatives.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, but there may be occasional delays or revisions due to the comprehensive nature of the national accounts data.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Accommodation and Food Services (72) in Delaware (DEACCFDRGSP), retrieved from FRED.