Gross Domestic Product: Chemical Manufacturing (325) in Delaware
DECHEMMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,969.70
Year-over-Year Change
79.97%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) of the chemical manufacturing industry (NAICS 325) in the state of Delaware. It provides insights into the economic performance and contribution of this key sector within the state's economy.
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 Gross Domestic Product: Chemical Manufacturing (325) in Delaware series tracks the total economic output or value-added of the chemical manufacturing industry in Delaware. This metric is used by economists and policymakers to analyze the growth, competitiveness, and structural changes within this important industrial segment of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is relevant for understanding the health and competitiveness of Delaware's manufacturing base and guiding related economic development policies.
Key Facts
- Delaware's chemical manufacturing sector accounts for over 20% of the state's GDP.
- Chemical production is the largest component of Delaware's manufacturing base.
- The chemical industry is a major employer in the state, accounting for over 10,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This series measures the total economic output or gross domestic product (GDP) of the chemical manufacturing industry (NAICS 325) in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and contribution of Delaware's chemical manufacturing sector, which is a critical part of the state's economy and industrial base.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This economic trend is relevant for understanding the health and competitiveness of Delaware's manufacturing base and guiding related economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, reflecting the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Chemical Manufacturing (325) in Delaware (DECHEMMANNGSP), retrieved from FRED.