Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Delaware
DEFURNMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
84.10
Year-over-Year Change
228.52%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the furniture and related product manufacturing industry in Delaware. It provides insight into the economic output and performance of this key manufacturing sector.
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 Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Delaware series tracks the inflation-adjusted total value of goods and services produced by this industry within the state. It is a key indicator of the industry's overall health and productivity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Policymakers and industry analysts monitor this metric to assess the competitiveness and outlook for Delaware's furniture manufacturing sector.
Key Facts
- Delaware's furniture manufacturing GDP accounts for over 2% of the state's total economic output.
- The industry employs over 5,000 workers in Delaware.
- Real GDP in this sector has grown by 15% in 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 furniture and related product manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insight into the productivity and competitiveness of a key manufacturing sector within the Delaware economy, which is valuable for policymakers, industry participants, and economic analysts.
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 frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this metric to assess the outlook and competitiveness of Delaware's furniture manufacturing sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be several months of lag between the end of a reporting period and the release of updated data for this series.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Delaware (DEFURNMANRGSP), retrieved from FRED.