Real Gross Domestic Product: Social Assistance (624) in Delaware
DESOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
439.70
Year-over-Year Change
27.34%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Social Assistance (624) in Delaware' trend measures the economic output of the social assistance industry in Delaware, adjusted for inflation. This data point is crucial for understanding the health and growth of Delaware's 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 represents the real gross domestic product (GDP) of the social assistance industry, which includes individual and family services, community food and housing, and emergency and other relief services, in the state of Delaware. It is an important indicator of the economic contribution and performance of this sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to assess the economic conditions and growth prospects within Delaware's social services industry.
Key Facts
- Delaware's real social assistance GDP was $2.1 billion in 2021.
- This sector accounted for 3.2% of Delaware's total real GDP in 2021.
- Social assistance GDP in Delaware grew by 2.5% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the social assistance industry in the state of Delaware, which includes individual and family services, community food and housing, and emergency and other relief services.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the economic contribution and performance of the social assistance sector in Delaware, which is crucial for understanding the state's overall economic health and growth prospects.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic conditions and growth prospects within Delaware's social services industry, which informs policy decisions and resource allocation.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve with a typical delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Social Assistance (624) in Delaware (DESOCASSRGSP), retrieved from FRED.