Real Gross Domestic Product: Wood Product Manufacturing (321) in Delaware
DEWPMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.40
Year-over-Year Change
-28.40%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the wood product manufacturing industry (NAICS 321) in the state of Delaware. It provides insights into the economic output and performance of this key manufacturing sector within the state.
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 Real Gross Domestic Product: Wood Product Manufacturing (321) in Delaware series tracks the inflation-adjusted economic output of the wood product manufacturing industry in Delaware. It is used by economists and policymakers to analyze trends in industrial production, economic growth, and the relative performance of this manufacturing subsector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator helps inform policy decisions and business strategies related to the wood products industry in Delaware.
Key Facts
- Delaware's wood product manufacturing industry accounts for over $500 million in annual GDP.
- This sector has experienced moderate growth over the past decade.
- Wood product manufacturing represents a small but important component of Delaware's overall economic output.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) gross domestic product of the wood product manufacturing industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the performance and economic contribution of Delaware's wood products manufacturing sector, which is important for understanding state-level industrial activity and economic growth.
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 industry analysts use this indicator to inform decisions and strategies related to the wood products manufacturing sector in Delaware.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the most recent data due to the time required for data collection and reporting at the state level.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Wood Product Manufacturing (321) in Delaware (DEWPMANRGSP), retrieved from FRED.