Gross Domestic Product: Manufacturing (31-33) in Delaware
DEMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,588.50
Year-over-Year Change
100.37%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for the Manufacturing sector (31-33) in Delaware measures the total economic output of this industry within the state. It is a key indicator of industrial activity and competitiveness.
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 GDP metric represents the value added by the Manufacturing sector to Delaware's overall economic production. It is used by economists and policymakers to analyze industrial trends, inform policy decisions, and assess the state's economic health.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources and statistical methods.
Historical Context
This Manufacturing GDP trend is important for understanding Delaware's economic composition and informing decisions around business investment, workforce development, and regional competitiveness.
Key Facts
- Delaware's Manufacturing GDP accounts for over 10% of the state's total economic output.
- The Manufacturing sector employs more than 50,000 workers in Delaware.
- Delaware's Manufacturing GDP has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or value added by the Manufacturing sector (NAICS codes 31-33) within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This Manufacturing GDP metric is a key indicator of industrial activity and competitiveness in Delaware, which is crucial for understanding the state's economic composition and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources and statistical methods.
Q: How is this trend used in economic policy?
A: This Manufacturing GDP trend is used by economists and policymakers to analyze industrial trends, inform decisions around business investment and workforce development, and assess Delaware's regional economic competitiveness.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical 3-month lag between the end of the reference quarter and the release of the GDP estimates.
Related Trends
Real Gross Domestic Product: Other Transportation and Support Activities (487-488, 492) in Delaware
DEOTHTRANRGSP
Real Gross Domestic Product: Wood Product Manufacturing (321) in Delaware
DEWPMANRGSP
Regional Price Parities: Goods for Delaware
DERPPGOOD
Personal Consumption Expenditures: Services: Housing and Utilities for Delaware
DEPCEHOUSUTL
Coefficient for Transportation Carbon Dioxide Emissions, Jet Fuel for Delaware
EMISSCO2CJFACBDEA
Housing Inventory: Price Reduced Count Month-Over-Month in Delaware
PRIREDCOUMMDE
Citation
U.S. Federal Reserve, Gross Domestic Product: Manufacturing (31-33) in Delaware (DEMANNGSP), retrieved from FRED.