Gross Domestic Product: Government and Government Enterprises (92) in Delaware
DEGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,512.00
Year-over-Year Change
50.14%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for government and government enterprises in Delaware measures the economic output of the public sector in the state. This metric is important for policymakers and analysts to understand the role of government activity 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
The GDP for government and government enterprises in Delaware represents the total value of goods and services produced by state and local government agencies, public universities, and other public institutions. This indicator provides insight into the scale and composition of the public sector's economic contribution.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government financial and employment records.
Historical Context
Policymakers and economists use this metric to assess the size and influence of the public sector on Delaware's overall economic performance.
Key Facts
- Delaware's government GDP was $8.4 billion in 2021.
- The public sector accounts for approximately 10% of Delaware's total economic output.
- State and local government employment in Delaware totals over 60,000 workers.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for government and government enterprises in Delaware measures the total economic output of the public sector in the state, including state and local government agencies, public universities, and other public institutions.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the size and influence of the public sector on Delaware's overall economic performance, which is useful for policymakers, economists, and other stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government financial and employment records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the role of government spending and employment in Delaware's economy, which can inform decisions about fiscal policy, public investment, and the provision of public services.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Government and Government Enterprises (92) in Delaware (DEGOVNGSP), retrieved from FRED.