Gross Domestic Product: All Industry Total in Delaware
DENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103,253.30
Year-over-Year Change
65.62%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP): All Industry Total in Delaware measures the total economic output of all industries in the state. It is a key indicator of Delaware's economic health and performance.
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
GDP: All Industry Total is a comprehensive measure of the economic activity within a state, including the value added by all private industries and government. It is widely used by economists, policymakers, and businesses to assess the state's economic conditions and trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is important for understanding Delaware's economic climate and informing policy decisions.
Key Facts
- Delaware's GDP reached $77.6 billion in 2021.
- GDP growth in Delaware averaged 2.3% per year from 2010-2021.
- The Finance and Insurance sector is the largest contributor to Delaware's GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP): All Industry Total in Delaware measures the total economic output of all industries in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Delaware's economic conditions and performance, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected and 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 and economists use this metric to assess the overall health and growth of Delaware's economy, which can inform decisions on fiscal, monetary, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: All Industry Total in Delaware (DENGSP), retrieved from FRED.