Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Delaware
DESOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.81
Year-over-Year Change
27.35%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Delaware measures the real output of the social assistance industry in the state, providing insight into economic activity and 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
This index tracks the quantity or volume of goods and services produced by the social assistance industry in Delaware, which includes establishments providing individual and family services, community food and housing, and emergency and other relief services.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This metric is used by economists and policymakers to analyze trends in Delaware's service-producing sectors and overall economic conditions.
Key Facts
- The index is based on 2012 as the reference year.
- Social assistance accounts for approximately 2% of Delaware's real GDP.
- The index reached its highest level in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or quantity of goods and services produced by the social assistance industry in Delaware, providing insight into economic activity in this sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and contribution of the social assistance industry to Delaware's overall economic conditions and growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to analyze trends in Delaware's service-producing sectors and overall economic conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis, and there may be some delay in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Delaware (DESOCASSQGSP), retrieved from FRED.