Real Gross Domestic Product: Manufacturing (31-33) in Delaware
DEMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,254.90
Year-over-Year Change
65.31%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures the real gross domestic product (GDP) of the manufacturing sector in the state of Delaware. It provides insights into the overall health and productivity of Delaware's manufacturing industry.
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 Real Gross Domestic Product: Manufacturing (31-33) in Delaware series tracks the inflation-adjusted value added by the manufacturing sector to the state's total economic output. It is a key measure of the sector's performance and competitiveness within the Delaware economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the manufacturing industry's contribution to Delaware's economic growth and development.
Key Facts
- Delaware's manufacturing sector accounts for approximately 10% of the state's total GDP.
- The manufacturing industry employs over 40,000 workers in Delaware.
- Delaware's manufacturing GDP has grown by 3.2% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) generated by the manufacturing sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and competitiveness of Delaware's manufacturing industry, which is a critical component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this trend to assess the manufacturing industry's contribution to Delaware's economic growth and development, and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Manufacturing (31-33) in Delaware (DEMANRGSP), retrieved from FRED.