Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Delaware
DEAPPLEATHMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.40
Year-over-Year Change
100.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in Delaware. It provides insight into the performance and economic contribution of this key manufacturing sector in 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 Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Delaware series represents the inflation-adjusted value added by this industry to the state's overall economic output. It is a key indicator of the health and productivity of Delaware's apparel, leather, and related manufacturing activities.
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 used by policymakers, analysts, and businesses to assess the competitive position and economic significance of Delaware's apparel and leather manufacturing sector.
Key Facts
- Delaware's apparel, leather, and allied product manufacturing sector accounts for over 3% of the state's total GDP.
- This industry experienced a 7.2% decline in real GDP during the 2020 COVID-19 recession.
- The apparel and leather manufacturing industry employs over 4,000 workers in Delaware.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic contribution of a key manufacturing sector in Delaware, 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and businesses to assess the competitive position and economic significance of Delaware's apparel and leather manufacturing sector.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other GDP-related statistics published by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Delaware (DEAPPLEATHMANRGSP), retrieved from FRED.