Real Gross Domestic Product: Private Industries in Delaware
DEPIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,014.60
Year-over-Year Change
13.60%
Date Range
1/1/1997 - 1/1/2024
Summary
Real Gross Domestic Product (GDP) for Private Industries in Delaware measures the total inflation-adjusted economic output of the state's private sector. It is a key indicator of Delaware's overall economic health and growth.
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 metric represents the total value added by Delaware's private companies and industries, excluding the public sector. Economists and policymakers use it to assess the state's economic performance and inform policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using data on industry output and inflation adjustments.
Historical Context
Trends in Delaware's private industry GDP provide insights into the state's business climate and can influence decisions around economic development programs and initiatives.
Key Facts
- Delaware's private sector GDP was $229 billion in 2021.
- Private industry accounted for 85% of Delaware's total economic output in 2021.
- Real private GDP in Delaware grew by 3.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product (GDP) for Private Industries in Delaware measures the total inflation-adjusted economic output of the state's private sector, excluding the public sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall health and performance of Delaware's private business environment, which is crucial for economic development and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level output data and inflation adjustments.
Q: How is this trend used in economic policy?
A: Trends in Delaware's private industry GDP can inform decisions around economic development programs, business incentives, and other policies aimed at supporting the state's private sector growth.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Delaware (DEPIRGSP), retrieved from FRED.