Gross Domestic Product: Private Goods-Producing Industries in Delaware
DEPRIGOODPRONGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,609.10
Year-over-Year Change
112.41%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Private Goods-Producing Industries in Delaware metric measures the total economic output of private goods-producing industries in the state of Delaware. This indicator provides insights into the health and productivity of Delaware's manufacturing, mining, and construction sectors.
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: Private Goods-Producing Industries in Delaware data series tracks the total value added by private companies engaged in the production of physical goods within the state. This metric is an important barometer of Delaware's industrial activity and economic growth.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
Economists and policymakers use this metric to assess the performance and competitiveness of Delaware's private goods-producing industries.
Key Facts
- Delaware's private goods-producing GDP was $12.4 billion in 2021.
- This sector accounts for 16.4% of Delaware's total economic output.
- Manufacturing is the largest private goods-producing industry in Delaware.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product: Private Goods-Producing Industries in Delaware metric measures the total economic output of private companies engaged in the production of physical goods within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health and productivity of Delaware's manufacturing, mining, and construction sectors, which are important drivers of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the performance and competitiveness of Delaware's private goods-producing industries, which inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three 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: Private Goods-Producing Industries in Delaware (DEPRIGOODPRONGSP), retrieved from FRED.