Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Delaware
DETEXTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.50
Year-over-Year Change
11.42%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Delaware' trend measures the economic output of the textile industry in Delaware. It provides valuable insights into the performance and importance of this key manufacturing sector within the state'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 tracks the gross domestic product (GDP) generated by textile mills and textile product mills in the state of Delaware. It is an important indicator of the health and productivity of this industrial subsector, which has historically been a significant contributor to Delaware's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its broader GDP reporting for individual states and industries.
Historical Context
Policymakers and industry analysts closely monitor this trend to assess the competitive position and growth prospects of Delaware's textile manufacturing industry.
Key Facts
- Delaware's textile industry accounts for over 5% of the state's total GDP.
- Textile mills and textile product mills employ more than 8,000 workers in Delaware.
- The state's textile GDP has grown by an average of 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by textile mills and textile product mills located in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and competitiveness of Delaware's textile manufacturing industry, which is a key contributor to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of its GDP reporting for individual states and industries.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the health and growth prospects of Delaware's textile manufacturing sector, informing decisions on economic development, trade, and workforce policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the BEA, with a lag of approximately 3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Delaware (DETEXTNGSP), retrieved from FRED.