Gross Domestic Product: Private Industries in Delaware
DEPINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93,741.20
Year-over-Year Change
67.37%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP) of Private Industries in Delaware measures the total economic output generated by the private sector 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
This series represents the value added by private industries, excluding government, to the overall GDP of Delaware. It provides insights into the strength and growth of the state's private economy, which is crucial for understanding regional economic trends and policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
Policymakers and analysts use this metric to assess the business environment, competitiveness, and economic development in Delaware.
Key Facts
- Delaware's private industries account for over 80% of its total GDP.
- The state's GDP from private industries has grown by an average of 3.2% annually over the past decade.
- Finance, insurance, and real estate are the largest contributors to Delaware's private industry GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) of Private Industries in Delaware measures the total economic output generated by the private sector in the state, excluding government.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the strength and growth of Delaware's private economy, which is a key driver of the state's overall economic performance and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the business environment, competitiveness, and economic development in Delaware, informing policy decisions and strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with some delay in availability.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Private Industries in Delaware (DEPINGSP), retrieved from FRED.