Gross Domestic Product: Construction (23) in Delaware
DECONSTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,004.00
Year-over-Year Change
131.19%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the construction component of Gross Domestic Product (GDP) in the state of Delaware. It provides insight into the health and activity of the construction industry, which is a key driver of economic growth.
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: Construction (23) in Delaware series represents the inflation-adjusted value added by the construction sector to the state's overall economic output. This metric is used by economists and policymakers to analyze trends in construction activity and its contribution to the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
This construction activity metric is closely watched by real estate, finance, and policy professionals to gauge the strength of Delaware's economy.
Key Facts
- Delaware's construction GDP accounts for approximately 3.5% of the state's total economic output.
- Construction GDP in Delaware has grown at an average annual rate of 2.8% over the past decade.
- The construction industry employs over 25,000 workers in Delaware, or about 5% of the state's total workforce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted value added by the construction sector to Delaware's Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: The construction industry is a key driver of economic growth, so this metric provides important insights into the health and activity of that sector within Delaware's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers, real estate professionals, and economists closely monitor this construction activity metric to gauge the strength of Delaware's broader economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Construction (23) in Delaware (DECONSTNGSP), retrieved from FRED.