Gross Domestic Product: Health Care and Social Assistance (62) in Delaware
DEHLTHSOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,906.50
Year-over-Year Change
82.76%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the health care and social assistance sector in Delaware. It provides insight into the economic contribution and performance of this critical industry within 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
The Gross Domestic Product: Health Care and Social Assistance (62) in Delaware series tracks the total economic output of the health care and social assistance sector in the state. This metric is used by economists and policymakers to analyze the size, growth, and significance of the health care industry in Delaware's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including business surveys and administrative records.
Historical Context
This economic trend is relevant for understanding the role of the health care sector in Delaware's overall economic landscape and can inform policy decisions and business strategies.
Key Facts
- Delaware's health care and social assistance sector accounts for over 12% of the state's GDP.
- This industry has experienced steady growth in recent years, outpacing the overall state economy.
- The health care and social assistance sector is a major employer in Delaware, accounting for over 15% of the state's workforce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or gross domestic product (GDP) of the health care and social assistance sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the size, growth, and significance of the health care industry within Delaware's economy, which is crucial for understanding the state's economic landscape and informing policy decisions.
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 sources, including business surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the performance and contribution of the health care sector in Delaware, which can inform decisions related to economic development, workforce planning, and public investment.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with a lag of several months. There may also be revisions to previously reported figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Health Care and Social Assistance (62) in Delaware (DEHLTHSOCASSNGSP), retrieved from FRED.