Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Delaware
DEEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,877.50
Year-over-Year Change
34.52%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the educational services, health care, and social assistance sectors in Delaware. It provides insight into the performance and contribution of these key industries to the state's overall economic activity.
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: Educational Services, Health Care, and Social Assistance (61, 62) in Delaware series tracks the inflation-adjusted value added by these sectors to the state's GDP. This data is used by economists and policymakers to analyze the relative importance and growth dynamics of these service-oriented industries within Delaware's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its state-level GDP estimates.
Historical Context
This trend is relevant for understanding the economic conditions and policy needs of Delaware's education, healthcare, and social assistance sectors.
Key Facts
- Delaware's educational, healthcare, and social assistance sectors account for over 20% of the state's GDP.
- This trend has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic had a significant impact on these service-providing industries in Delaware.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the educational services, health care, and social assistance sectors in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and relative importance of these key service-providing industries within Delaware's economy, which is valuable information for policymakers 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 as part of its state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the economic conditions and policy needs of Delaware's education, healthcare, and social assistance sectors.
Q: Are there update delays or limitations?
A: The data is subject to regular revisions by the Bureau of Economic Analysis, and there may be some delay between the reference period and the release of the latest estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Delaware (DEEDHLTHSOCASSRGSP), retrieved from FRED.