Gross Domestic Product: Educational Services (61) in Delaware
DEEDCATNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
495.60
Year-over-Year Change
14.70%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Educational Services (61) in Delaware measures the economic output of the education sector in the state. This data is crucial for understanding the contribution of education to Delaware's overall economic performance.
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
This series represents the total inflation-adjusted dollar value of goods and services produced within Delaware's educational services industry, which includes both public and private schools, colleges, and universities. It is an important indicator of the education sector's economic impact and role in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and census data.
Historical Context
Policymakers and economists use this metric to assess the strength and growth of Delaware's education industry and its influence on the state's economic development.
Key Facts
- Delaware's educational services industry contributed $4.2 billion to the state's GDP in 2020.
- The education sector accounts for approximately 7% of Delaware's total economic output.
- The GDP of Delaware's educational services industry has grown by 12% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or Gross Domestic Product (GDP) of the educational services industry in the state of Delaware, including both public and private education providers.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and analysts to understand the economic importance and performance of Delaware's education sector and its contribution to the state's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and census data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the strength and growth of Delaware's education industry and its influence on the state's economic development, informing decisions related to education funding, workforce development, and economic policy.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with some delay. There may be revisions to previous estimates as more complete data becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Educational Services (61) in Delaware (DEEDCATNGSP), retrieved from FRED.