Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Delaware
DEFOODDPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.88
Year-over-Year Change
16.06%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Delaware measures the real (inflation-adjusted) output of the food service and drinking establishments industry in the state.
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 changes in the quantity or real output of the food services and drinking places sector, which includes restaurants, bars, and other dining establishments in Delaware. It is an important indicator of consumer spending and the overall health of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using quantity indexes that adjust for price changes.
Historical Context
Economists and policymakers use this index to monitor the strength of the food service industry and consumer demand within Delaware.
Key Facts
- The index is based on 2012 as the reference year.
- Delaware's food services sector accounts for a significant portion of the state's GDP.
- The index provides insights into consumer behavior and confidence in the local economy.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Delaware measures the real (inflation-adjusted) output of the food service and drinking establishments industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of consumer spending and the overall health of Delaware's economy, as the food services sector is a significant contributor to the state's GDP.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using quantity indexes that adjust for price changes.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to monitor the strength of the food service industry and consumer demand within Delaware, which can inform economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve and may be subject to periodic updates or revisions, with potential delays in availability.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Delaware (DEFOODDPQGSP), retrieved from FRED.