Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Delaware
DEFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43,988.70
Year-over-Year Change
63.96%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic series measures the gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing sectors in the state of Delaware. It provides crucial insights into the health and growth of these key industries within the state's economy.
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 DEFININSREALNGSP series tracks the total economic output, or GDP, generated by companies and organizations in the finance, insurance, real estate, rental, and leasing industries located in Delaware. This data is used by economists, policymakers, and analysts to understand the relative size and performance of these service-oriented sectors within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This GDP data helps inform economic and policy decisions at the state level in Delaware.
Key Facts
- Delaware's finance, insurance, and real estate sectors account for over 30% of the state's GDP.
- This industry group has seen steady growth of around 3% annually over the past decade.
- The COVID-19 pandemic temporarily disrupted activity in 2020 but the sector has since rebounded.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) generated by companies in Delaware's finance, insurance, real estate, rental, and leasing industries.
Q: Why is this trend relevant for users or analysts?
A: This data provides crucial insights into the performance and relative importance of key service sectors within Delaware's economy, informing economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This GDP data helps inform economic and policy decisions at the state level in Delaware, as it indicates the health and growth of these key industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short delay, providing timely insights into industry performance.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Delaware (DEFININSREALNGSP), retrieved from FRED.