Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Delaware
DEFOODBEVTOBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,487.90
Year-over-Year Change
124.55%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the food, beverage, and tobacco product manufacturing industry in the state of Delaware. It provides insights 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 DEFOODBEVTOBMANNGSP series tracks the GDP generated by food, beverage, and tobacco product manufacturing establishments located in Delaware. This metric is used by economists and policymakers to assess the health and competitiveness of this important manufacturing industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic census information.
Historical Context
Trends in this manufacturing GDP can inform economic development strategies and policies aimed at supporting growth in Delaware's food, beverage, and tobacco product industries.
Key Facts
- Delaware's food, beverage, and tobacco manufacturing GDP totaled $1.7 billion in 2021.
- This industry accounts for approximately 5% of Delaware's total economic output.
- The sector has experienced steady growth, expanding by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by food, beverage, and tobacco product manufacturing establishments located in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and competitiveness of an important manufacturing sector within Delaware's economy, informing economic development strategies and policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic census information.
Q: How is this trend used in economic policy?
A: Trends in this manufacturing GDP can inform policies and strategies aimed at supporting growth in Delaware's food, beverage, and tobacco product industries.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and data collection methods of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Delaware (DEFOODBEVTOBMANNGSP), retrieved from FRED.