Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Delaware
DEFABRMETNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.50
Year-over-Year Change
-17.40%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Delaware measures the economic output of this industry in the state. It is a key indicator of manufacturing activity and competitiveness.
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 value added by the fabricated metal product manufacturing industry in Delaware. It is used by economists and policymakers to assess the health and trends of this critical manufacturing sector within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and sales information.
Historical Context
This metric helps inform decisions around industrial policy, workforce development, and infrastructure investment.
Key Facts
- Delaware's fabricated metal manufacturing GDP was $1.8 billion in 2021.
- This industry accounts for 5.3% of Delaware's total GDP.
- Employment in fabricated metal manufacturing in Delaware has declined by 8% since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output or value added by the fabricated metal product manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the performance and competitiveness of a critical manufacturing sector in Delaware, which is useful for economic and policy analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and sales information from businesses in this industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to inform decisions around industrial policy, workforce development, and infrastructure investment targeted at the fabricated metal manufacturing sector in Delaware.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Delaware (DEFABRMETNGSP), retrieved from FRED.