Gross Domestic Product: Accommodation (721) in Delaware
DEACCOMDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
466.20
Year-over-Year Change
160.45%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) Accommodation (721) in Delaware series measures the economic output of the accommodation industry in the state. This metric is crucial for understanding the health and trends of Delaware's tourism and hospitality sectors.
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 GDP Accommodation (721) in Delaware series represents the total economic output, or value added, of the accommodation industry within the state. This includes hotels, motels, and other lodging providers. Economists and policymakers use this data to analyze the performance and contributions of Delaware's tourism and hospitality sectors.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
Trends in Delaware's accommodation GDP can provide insights into the state's tourism industry and broader economic conditions.
Key Facts
- Delaware's accommodation GDP was $1.2 billion in 2021.
- The accommodation industry accounts for 2.1% of Delaware's total GDP.
- Accommodation GDP in Delaware has grown by 8.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) Accommodation (721) in Delaware series measures the total economic output of the accommodation industry within the state, including hotels, motels, and other lodging providers.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the health and performance of Delaware's tourism and hospitality sectors, which are important contributors to the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: Trends in Delaware's accommodation GDP can provide insights into the state's tourism industry and broader economic conditions, which are relevant for policymakers and economists.
Q: Are there update delays or limitations?
A: The accommodation GDP data for Delaware is published regularly by the U.S. Bureau of Economic Analysis, but may be subject to revisions and update delays typical of government economic statistics.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Accommodation (721) in Delaware (DEACCOMDNGSP), retrieved from FRED.