Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Delaware
DEPLASRUBMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.20
Year-over-Year Change
-46.49%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Delaware. It provides important insights into the state's manufacturing sector and broader 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
The Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Delaware series tracks the inflation-adjusted value added by this key manufacturing industry within the state's economy. It is a critical indicator for understanding Delaware's industrial production and economic trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric informs policymakers, businesses, and analysts about the health and competitiveness of Delaware's plastics and rubber products manufacturing sector.
Key Facts
- Delaware is a major hub for plastics and rubber products manufacturing.
- This industry accounts for a significant portion of the state's economic output.
- Real GDP in this sector has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and performance of a key manufacturing sector in Delaware, informing policymakers, businesses, and economic analysts about the state's industrial production and broader economic trends.
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 principles.
Q: How is this trend used in economic policy?
A: This series informs policymakers, businesses, and analysts about the competitiveness and growth of Delaware's plastics and rubber products manufacturing sector, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be some time lag in the data due to the process of collecting and publishing economic statistics, but the U.S. Federal Reserve provides this series through its FRED database on a regular basis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Delaware (DEPLASRUBMANRGSP), retrieved from FRED.