Gross Domestic Product: Machinery Manufacturing (333) in Delaware
DEMACHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
194.40
Year-over-Year Change
199.08%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Delaware. It provides insights into the economic performance and productivity of this key manufacturing sector within 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 Gross Domestic Product: Machinery Manufacturing (333) in Delaware series tracks the total economic output of the machinery manufacturing industry in Delaware. This metric is important for analyzing the health and competitiveness of Delaware's manufacturing base and its contribution to the state's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including establishment surveys and other economic indicators.
Historical Context
Policymakers and business leaders use this data to inform decisions about investments, workforce development, and regulatory policies that impact the machinery manufacturing industry in Delaware.
Key Facts
- Delaware's machinery manufacturing GDP accounts for over 10% of the state's total GDP.
- The machinery manufacturing industry employs more than 15,000 people in Delaware.
- Delaware's machinery manufacturing GDP has grown by an average of 3% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the machinery manufacturing industry (NAICS 333) in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and competitiveness of a key manufacturing sector within Delaware's economy, which is crucial for policymakers and business leaders.
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 establishment surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and business leaders use this data to inform decisions about investments, workforce development, and regulatory policies that impact the machinery manufacturing industry in Delaware.
Q: Are there update delays or limitations?
A: The data is typically released with a 3-month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Machinery Manufacturing (333) in Delaware (DEMACHMANNGSP), retrieved from FRED.