Real Gross Domestic Product: Retail Trade (44-45) in Delaware
DERETAILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,531.90
Year-over-Year Change
38.38%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Retail Trade (44-45) in Delaware' measures the inflation-adjusted economic output of the retail trade sector in the state of Delaware. This metric is important for understanding the health and trends of Delaware's consumer-driven 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
This series tracks the real, price-adjusted gross domestic product (GDP) specifically for the retail trade industry, which includes businesses engaged in selling merchandise and providing services directly to consumers. It is a key indicator of consumer spending and business activity in Delaware.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of surveys and economic indicators.
Historical Context
Analysts and policymakers use this data to assess the strength of Delaware's consumer economy and make informed decisions.
Key Facts
- Delaware's retail GDP accounts for about 5% of the state's total economic output.
- Retail trade GDP in Delaware has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a 3.7% decline in Delaware's retail GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (GDP) specifically for the retail trade industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and trends of Delaware's consumer-driven economy, as the retail trade sector is a key indicator of consumer spending and business activity in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of surveys and economic indicators.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to assess the strength of Delaware's consumer economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Retail Trade (44-45) in Delaware (DERETAILRGSP), retrieved from FRED.