Real Gross Domestic Product: Professional and Business Services (54, 55, 56) in Delaware
DEPROBUSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,973.00
Year-over-Year Change
26.87%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the professional and business services sector in Delaware. It provides insights into the economic performance and productivity of this key industry in the state.
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 GDP of the professional and business services sector in Delaware represents the inflation-adjusted value of goods and services produced by establishments in this industry, which includes professional, scientific, and technical services, management of companies and enterprises, and administrative and support services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is used by economists, policymakers, and business analysts to assess the health and growth of Delaware's economy and the competitiveness of its professional and business services industry.
Key Facts
- Delaware's professional and business services sector accounts for a significant portion of its total GDP.
- This industry has experienced fluctuations in output over time, reflecting broader economic conditions.
- The performance of this sector is closely watched as an indicator of Delaware's economic competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the professional and business services sector in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and productivity of a key industry in Delaware, which is important for understanding the state's overall economic health and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and business analysts to assess the health and growth of Delaware's economy and the competitiveness of its professional and business services industry.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the source agency, and may have some delay in reporting compared to real-time economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Professional and Business Services (54, 55, 56) in Delaware (DEPROBUSRGSP), retrieved from FRED.