Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Delaware
DEPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
191.00
Year-over-Year Change
-12.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Delaware. It provides insights into the performance and growth of this crucial manufacturing sector within the state's economy.
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 Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Delaware series tracks the total economic output of the plastics and rubber products manufacturing industry in Delaware. This metric is important for understanding the state's industrial composition, competitiveness, and potential areas of economic development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP by industry statistics.
Historical Context
This trend is used by policymakers, industry analysts, and businesses to assess the relative strength and contribution of the plastics and rubber manufacturing sector within Delaware's economy.
Key Facts
- Delaware's plastics and rubber products manufacturing industry accounted for $2.3 billion in GDP in 2021.
- This sector represents approximately 4.2% of Delaware's total GDP.
- The plastics and rubber manufacturing industry employs over 12,000 workers in Delaware.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the plastics and rubber products manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of a key manufacturing sector within Delaware's economy, which is useful for policymakers, industry analysts, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the relative strength and competitiveness of Delaware's plastics and rubber manufacturing sector, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Delaware (DEPLASRUBMANNGSP), retrieved from FRED.