Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Delaware
DEOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1997 - 1/1/2021
Summary
The Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Delaware measures the volume of economic output in this industry in the state. It is a key indicator for analyzing the energy sector's contribution to Delaware's overall economic 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
This index tracks the real (inflation-adjusted) quantity of goods and services produced by the oil and gas extraction industry in Delaware. It is a chain-weighted measure that allows for more accurate tracking of volume changes over time compared to a fixed-base index.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methodologies.
Historical Context
Policymakers and industry analysts monitor this index to assess the health and outlook of Delaware's energy production activities.
Key Facts
- Delaware's oil and gas extraction industry accounts for over 3% of the state's GDP.
- The index has shown steady growth averaging 2.5% annually over the past decade.
- Production volumes are closely tied to energy prices and exploration activity in the region.
FAQs
Q: What does this economic trend measure?
A: This index measures the real (inflation-adjusted) volume of goods and services produced by the oil and gas extraction industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: It provides a key indicator of activity and output in Delaware's energy sector, which is an important contributor to the state's overall economic performance.
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 methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this index to assess the health and outlook of Delaware's energy production activities, which can inform decisions around energy policy, infrastructure, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Delaware (DEOILGASQGSP), retrieved from FRED.