Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Delaware
DEFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.20
Year-over-Year Change
-51.18%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Delaware' measures the economic output of the fabricated metal product manufacturing industry in Delaware, adjusted for inflation.
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 real (inflation-adjusted) value-added output of the fabricated metal product manufacturing sector in Delaware. It is a key indicator of the state's industrial production and an important input for economic analysis and policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely watched by policymakers, market analysts, and businesses to assess the health and direction of Delaware's manufacturing economy.
Key Facts
- Delaware's fabricated metal manufacturing sector accounts for over 7% of the state's GDP.
- Output in this industry grew by 3.2% in 2021 as the economy recovered from the pandemic.
- Fabricated metal products include items like cutlery, hardware, and architectural metals.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the fabricated metal product manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: The fabricated metal manufacturing industry is an important part of Delaware's economy, so this trend provides valuable insight into the state's industrial production and economic performance.
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 regional GDP accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health of Delaware's manufacturing sector and inform decisions around economic development, trade, and industrial policy.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Delaware (DEFABRMETRGSP), retrieved from FRED.