Gross Domestic Product: State and Local in Delaware
DEGOVSLNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,481.10
Year-over-Year Change
49.32%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: State and Local in Delaware' measures the total economic output of state and local governments within the state of Delaware. This metric is crucial for understanding the financial health and economic contribution of Delaware's public 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
This series represents the gross domestic product (GDP) generated by state and local government operations in Delaware. It is used by economists, policymakers, and analysts to assess the size and importance of the public sector within the state's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government financial records and economic indicators.
Historical Context
Trends in Delaware's state and local GDP are closely monitored for their implications on tax revenues, spending, and economic policy decisions.
Key Facts
- Delaware's state and local GDP totaled $16.9 billion in 2021.
- Government spending accounts for approximately 13% of Delaware's overall economic output.
- State and local GDP growth in Delaware has outpaced the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total gross domestic product (GDP) generated by state and local government operations within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the size and economic contribution of the public sector in Delaware, which has important implications for tax revenues, spending, and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using government financial records and economic indicators.
Q: How is this trend used in economic policy?
A: Trends in Delaware's state and local GDP are closely monitored by economists, policymakers, and analysts for their implications on the state's fiscal health and economic policies.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a lag of several months between the end of the reporting period and the data release.
Related Trends
Personal Consumption Expenditures: Services: Other Services for Delaware
DEPCEOSRV
All Employees: Service-Providing in Delaware
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State Government Tax Collections, Motor Vehicle Licenses in Delaware
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Real Gross Domestic Product: Private Goods-Producing Industries in Delaware
DEPRIGOODPRORGSP
Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Delaware
DEOTHSERVEQGSP
Coefficient for Transportation Carbon Dioxide Emissions, LPG (Fuel Use) for Delaware
EMISSCO2CHLACBDEA
Citation
U.S. Federal Reserve, Gross Domestic Product: State and Local in Delaware (DEGOVSLNGSP), retrieved from FRED.