Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Delaware
DEFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88.40
Year-over-Year Change
-20.16%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Delaware measures the inflation-adjusted output of the finance and insurance sector in the state. This metric is crucial for economists and policymakers to assess the economic health and productivity of this key industry.
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 index tracks the real, or inflation-adjusted, gross domestic product (GDP) specifically for the finance and insurance sector within the state of Delaware. It is used to gauge the growth, productivity, and competitiveness of this critical industry, which is a major driver of Delaware's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This index helps inform decisions by policymakers, businesses, and investors regarding economic conditions, industry performance, and development strategies in Delaware.
Key Facts
- Delaware's finance and insurance sector accounts for over 35% of its GDP.
- This index has grown by over 25% in the past decade.
- The finance and insurance industry employs nearly 1 in 5 workers in Delaware.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output or real GDP of the finance and insurance sector within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the economic health and productivity of a key industry that is central to Delaware's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This index helps inform decisions by policymakers, businesses, and investors regarding economic conditions, industry performance, and development strategies in Delaware.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Delaware (DEFININSQGSP), retrieved from FRED.