Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Delaware
DEFURNMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.10
Year-over-Year Change
413.36%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for the furniture and related product manufacturing industry (NAICS 337) in the state of Delaware. It provides insights into the performance and growth of this key manufacturing sector 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 Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Delaware metric tracks the total economic output of businesses engaged in the production of furniture and related products in Delaware. This data is used by economists and policymakers to analyze the strength and trends within this important manufacturing industry and its contribution to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including industry surveys and economic census data.
Historical Context
This economic trend is relevant for understanding the health and competitiveness of Delaware's manufacturing sector and can inform policy decisions related to industrial development, trade, and workforce training.
Key Facts
- Delaware's furniture manufacturing GDP was $194 million in 2021.
- This industry accounts for 1.2% of Delaware's total GDP.
- Furniture manufacturing GDP in Delaware has grown by 8.4% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the furniture and related product manufacturing industry (NAICS 337) in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of a key manufacturing sector within Delaware's economy, which is useful for policymakers, industry analysts, and economic researchers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry surveys and economic census data.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to industrial development, trade, and workforce training in Delaware's manufacturing sector.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Delaware (DEFURNMANNGSP), retrieved from FRED.