Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Delaware
DEFOODBEVTOBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,259.60
Year-over-Year Change
64.33%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Delaware measures the inflation-adjusted economic output of the food, beverage, and tobacco manufacturing sector in the state. It is a key indicator of the health and productivity of this important industrial segment.
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 economic series tracks the real value-added production of food, beverage, and tobacco manufacturers in Delaware. It provides insights into the growth and performance of a vital component of the state's economy, which has significant implications for employment, investment, and consumer demand.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and market analysts closely monitor this indicator to assess the broader economic conditions and competitiveness of Delaware's manufacturing base.
Key Facts
- Delaware's food and beverage manufacturing sector accounts for over $2 billion in annual economic output.
- This industry employs more than 10,000 workers in the state.
- The real GDP of this sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the food, beverage, and tobacco manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the performance and growth of a key manufacturing sector in Delaware's economy, which has important implications for employment, investment, and consumer demand.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this indicator to assess the broader economic conditions and competitiveness of Delaware's manufacturing base.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Delaware (DEFOODBEVTOBMANRGSP), retrieved from FRED.