Gross Domestic Product: Social Assistance (624) in Delaware
DESOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
562.00
Year-over-Year Change
90.38%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the social assistance industry in Delaware. It provides insights into the economic contribution and performance of this key 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 GDP of the social assistance industry in Delaware represents the total value of goods and services produced by this sector within the state's economy. It is an important indicator for understanding the scale and growth of this industry, which includes social services, childcare, and community programs.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This GDP trend is used by policymakers, economists, and industry analysts to assess the economic health and policy needs of Delaware's social assistance sector.
Key Facts
- Delaware's social assistance GDP was $1.8 billion in 2021.
- The sector accounts for 2.3% of Delaware's total economic output.
- Social assistance GDP in Delaware grew by 4.7% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the social assistance industry in the state of Delaware. It represents the total economic output of this sector.
Q: Why is this trend relevant for users or analysts?
A: This GDP trend provides important insights into the scale, growth, and economic contribution of Delaware's social assistance sector, which is a key 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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this GDP trend to assess the health and policy needs of Delaware's social assistance sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Social Assistance (624) in Delaware (DESOCASSNGSP), retrieved from FRED.