Gross Domestic Product: Administrative and Support Services (561) in Delaware
DEADMINSUPNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,520.30
Year-over-Year Change
115.93%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) generated by the administrative and support services industry (NAICS 561) in the state of Delaware. It provides valuable insights into the economic activity and productivity of this important service sector.
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 administrative and support services industry encompasses a wide range of business support functions, such as office administration, facilities management, and employment services. Tracking the GDP contribution of this sector helps economists and policymakers understand the broader economic landscape and the role of business services in Delaware's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This metric is used by analysts, businesses, and policymakers to assess the health and competitiveness of Delaware's service-oriented economy.
Key Facts
- Delaware's administrative and support services GDP was $3.4 billion in 2021.
- This sector accounts for approximately 6% of Delaware's total economic output.
- The administrative and support services industry has grown by 2.5% annually in Delaware over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the administrative and support services industry (NAICS 561) in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP contribution of the administrative and support services sector helps economists and policymakers understand the broader economic landscape and the role of business services in Delaware's 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 accounting frameworks.
Q: How is this trend used in economic policy?
A: This metric is used by analysts, businesses, and policymakers to assess the health and competitiveness of Delaware's service-oriented economy.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Bureau of Economic Analysis, with typical update delays of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support Services (561) in Delaware (DEADMINSUPNGSP), retrieved from FRED.