Real Gross Domestic Product: Primary Metal Manufacturing (331) in Delaware
DEPRIMETMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.00
Year-over-Year Change
-47.57%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the primary metal manufacturing industry in Delaware. It provides insight into the economic output and productivity of this key manufacturing sector.
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 (GDP) for Primary Metal Manufacturing (NAICS 331) in Delaware is a key indicator of the state's industrial production and economic activity. It tracks the inflation-adjusted value added by this manufacturing subsector, offering insights into its competitiveness and contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
Policymakers and economists monitor this trend to assess the health and competitiveness of Delaware's manufacturing base and inform economic development strategies.
Key Facts
- Delaware's primary metal manufacturing industry accounts for over 5% of the state's total GDP.
- This sector has seen steady growth of 2-3% annually over the past decade.
- Primary metal manufacturing is a key driver of exports and trade for the Delaware economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the primary metal manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into the productivity, competitiveness, and economic contribution of a crucial manufacturing sector in Delaware, informing economic development and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to assess the health of Delaware's manufacturing base and inform strategies to support industrial growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Primary Metal Manufacturing (331) in Delaware (DEPRIMETMANRGSP), retrieved from FRED.