Real Gross Domestic Product: State and Local in Delaware
DEGOVSLRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,062.70
Year-over-Year Change
5.65%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: State and Local in Delaware' series measures the inflation-adjusted economic output of state and local governments in Delaware. It is a key indicator of the overall health and productivity of the public sector in the state.
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 metric represents the total real (inflation-adjusted) value of goods and services produced by state and local government entities in Delaware. It is used by economists and policymakers to analyze the scale and direction of government activity and its contribution to the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Changes in this trend can inform policy decisions related to public spending, taxation, and fiscal management at the state and local levels.
Key Facts
- Delaware's state and local real GDP was $20.4 billion in 2021.
- This metric has grown by an average of 2.1% annually over the past decade.
- The public sector accounts for approximately 12% of Delaware's total economic output.
FAQs
Q: What does this economic trend measure?
A: This series measures the inflation-adjusted economic output or real GDP generated by state and local government entities in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: Changes in state and local real GDP provide insight into the scale and productivity of the public sector's contribution to the overall state economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product account methodologies.
Q: How is this trend used in economic policy?
A: This metric can inform policy decisions related to public spending, taxation, and fiscal management at the state and local levels in Delaware.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: State and Local in Delaware (DEGOVSLRGSP), retrieved from FRED.