Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Delaware
DEADMINSUPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140.56
Year-over-Year Change
65.51%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Delaware measures the inflation-adjusted output of the administrative and support services sector in the state. This metric provides insight into the economic performance and productivity of this key industry.
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 Chain-Type Quantity Index is a measure of real, inflation-adjusted GDP, which economists use to assess economic growth and productivity trends. This specific index focuses on the administrative and support services sector (NAICS 561) in the state of Delaware, offering a detailed view of activity in this important business services industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and analysts monitor this index to gauge the health of Delaware's service economy and make informed decisions.
Key Facts
- The index has a base year of 2012.
- Delaware's administrative services sector accounts for over 10% of the state's GDP.
- The index reached its highest level in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output or real GDP of the administrative and support services sector (NAICS 561) in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and productivity of an important service industry within Delaware's economy, which is useful for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real, inflation-adjusted GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to gauge the health of Delaware's service economy and make informed decisions about economic development, taxation, and other policies.
Q: Are there update delays or limitations?
A: The index is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Delaware (DEADMINSUPQGSP), retrieved from FRED.