Real Gross Domestic Product: Administrative and Support Services (561) in Delaware
DEADMINSUPRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,160.20
Year-over-Year Change
65.51%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the administrative and support services industry (NAICS 561) in the state of Delaware. It provides insights into the economic performance and productivity of this key service sector.
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 administrative and support services in Delaware represents the total inflation-adjusted economic output of businesses providing services such as office administration, facilities support, and employment services. This metric is used by economists and policymakers to analyze the health and growth of this important industry within the state's economy.
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 broader economic conditions and competitiveness of Delaware's service industry.
Key Facts
- Delaware's administrative and support services industry accounts for over 10% of the state's total GDP.
- This sector has experienced steady growth, outpacing the national average in recent years.
- The data is released quarterly with a lag of approximately 3 months.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the administrative and support services industry (NAICS 561) in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic performance and productivity of a key service sector within Delaware's economy, which is useful for understanding broader economic conditions and competitiveness.
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: This trend is used by economists and policymakers to analyze the health and growth of Delaware's administrative and support services industry, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support Services (561) in Delaware (DEADMINSUPRGSP), retrieved from FRED.