Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Delaware
DENDURMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,834.90
Year-over-Year Change
143.13%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) of the nondurable goods manufacturing sector in Delaware. It provides insight into the performance and contribution of this critical industry to the state's overall economic activity.
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 Nondurable Goods Manufacturing GDP in Delaware is a key indicator of the state's industrial production and economic health. It encompasses a range of industries, including food, beverage, and tobacco manufacturing, as well as textiles, apparel, and chemical production.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their GDP by state program.
Historical Context
This metric is widely used by policymakers, economists, and businesses to assess the competitive position and growth potential of Delaware's manufacturing sector.
Key Facts
- Delaware's nondurable goods manufacturing sector accounts for over $5 billion in GDP.
- This industry employs more than 20,000 workers in the state.
- The nondurable goods manufacturing GDP has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the nondurable goods manufacturing sector in the state of Delaware. It covers industries like food, textiles, and chemicals.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and competitiveness of a critical industry in Delaware's economy, which is crucial for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their GDP by state program.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to assess the growth potential and competitive position of Delaware's manufacturing sector, which informs economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the BEA, with a typical release lag of 2-3 months. There may be revisions to previous estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Delaware (DENDURMANNGSP), retrieved from FRED.