Chain-Type Quantity Index for Real GDP: Accommodation (721) in Delaware
DEACCOMDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
128.87
Year-over-Year Change
71.46%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation (721) in Delaware measures the real output of the accommodation industry in Delaware. This metric is important for understanding economic activity and trends in the state'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
This index tracks the volume of real GDP produced by the accommodation industry in Delaware, which includes hotels, motels, and other lodging establishments. The index is a useful indicator of the health and performance of Delaware's tourism-related economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric is closely monitored by policymakers, businesses, and economists to assess the strength of Delaware's service economy.
Key Facts
- Delaware's accommodation industry accounts for over 4% of the state's total GDP.
- The index has shown steady growth over the past decade, reflecting the strength of Delaware's tourism sector.
- Fluctuations in this index can signal changes in consumer spending and business investment in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output or production volume of the accommodation industry in Delaware, including hotels, motels, and other lodging establishments.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of the health and performance of Delaware's tourism-related economy, which is a key driver of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and economists closely monitor this metric to assess the strength of Delaware's service economy and make informed decisions about economic development, tourism promotion, and other policy initiatives.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation (721) in Delaware (DEACCOMDQGSP), retrieved from FRED.