Gross Domestic Product: Wood Product Manufacturing (321) in Delaware
DEWPMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.40
Year-over-Year Change
58.92%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the wood product manufacturing industry (NAICS 321) in the state of Delaware. It provides insight into the performance and contribution of this key manufacturing sector to the state's overall economic activity.
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 Gross Domestic Product: Wood Product Manufacturing (321) in Delaware series tracks the total economic output of businesses involved in the manufacturing of wood products, such as lumber, plywood, and other wood materials, within the state of Delaware. This data is used by economists and policymakers to analyze the health and competitiveness of Delaware's manufacturing industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is relevant for understanding the state of Delaware's manufacturing sector and its role in the broader state economy.
Key Facts
- Delaware's wood product manufacturing industry contributed $258 million to the state's GDP in 2021.
- Wood product manufacturing accounts for approximately 2% of Delaware's total economic output.
- The industry employs over 2,000 workers in Delaware.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the wood product manufacturing industry (NAICS 321) in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and contribution of Delaware's wood product manufacturing sector, which is an important part of the state's overall economy.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and competitiveness of Delaware's manufacturing industry, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision policies of the U.S. Bureau of Economic Analysis.
Related Trends
All Employees: Government: Federal Government in Delaware
SMS10000009091000001
Housing Inventory: Median Days on Market in Delaware
MEDDAYONMARDE
Projected Business Formations Within Eight Quarters: Total for All NAICS in Delaware
BFPBF8QTOTALSADE
Chain-Type Quantity Index for Real GDP: Trade (42, 44-45) in Delaware
DETRADEQGSP
Residential Carbon Dioxide Emissions, All Fuels for Delaware
EMISSCO2TOTVRCTODEA
Value of Exports to Luxembourg from Delaware
DELUXA052SCEN
Citation
U.S. Federal Reserve, Gross Domestic Product: Wood Product Manufacturing (321) in Delaware (DEWPMANNGSP), retrieved from FRED.