Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Delaware
DEARTETRTACCFDNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,216.90
Year-over-Year Change
90.59%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the Gross Domestic Product (GDP) for the arts, entertainment, recreation, accommodation, and food services industries in Delaware. It provides insights into the economic performance of these key service 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 DEARTETRTACCFDNGSP series tracks the GDP contribution of the arts, entertainment, recreation, accommodation, and food services industries in Delaware. This data is used by economists and policymakers to analyze the health and growth of these consumer-facing sectors within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This economic indicator helps inform policy decisions and business strategies related to Delaware's tourism, hospitality, and leisure industries.
Key Facts
- Delaware's arts, entertainment, recreation, accommodation, and food services GDP was $7.8 billion in 2021.
- This sector accounts for over 10% of Delaware's total economic output.
- The industry experienced a 16% decline in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) contribution of the arts, entertainment, recreation, accommodation, and food services industries in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the performance and economic significance of Delaware's consumer-facing service sectors, which are important for understanding the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This indicator helps inform policy decisions and business strategies related to Delaware's tourism, hospitality, and leisure industries.
Q: Are there update delays or limitations?
A: The data is published 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, Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Delaware (DEARTETRTACCFDNGSP), retrieved from FRED.