Gross Domestic Product: Military in Delaware
DEGOVFEDMILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
777.80
Year-over-Year Change
21.36%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Military in Delaware' series measures the economic output associated with military spending and activities in the state of Delaware. This metric is important for understanding the role of the military sector in 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
This series represents the gross domestic product (GDP) generated by federal military spending and operations in Delaware. It provides insight into the economic impact and significance of the military presence in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the economic dependence on and contributions of the military in Delaware.
Key Facts
- Delaware's military GDP was $1.3 billion in 2020.
- The military sector accounts for 4.2% of Delaware's total GDP.
- This metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product (GDP) associated with military spending and activities in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic importance and impact of the military sector in Delaware, which is relevant for policymakers 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.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the economic dependence on and contributions of the military in Delaware.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically a few quarters behind the current period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Military in Delaware (DEGOVFEDMILNGSP), retrieved from FRED.