Real Gross Domestic Product: Private Services-Providing Industries in Delaware
DEPRISERVPRORGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62,359.30
Year-over-Year Change
8.90%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the private services-providing industries in the state of Delaware. It is a key indicator of economic activity and productivity in the state's 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 Real Gross Domestic Product: Private Services-Providing Industries in Delaware metric tracks the total output of the private services sector in the state, adjusted for inflation. It provides insight into the health and performance of Delaware's service-based economy, which is a major driver of the state's overall economic growth.
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 closely monitored by policymakers, economists, and businesses to assess the state's economic conditions and make informed decisions.
Key Facts
- Delaware's private services sector accounts for over 80% of the state's total economic output.
- The real GDP of Delaware's private services industries has grown by an average of 2.5% annually over the past decade.
- Service-providing industries include trade, transportation, utilities, information, financial activities, professional services, and other services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the private services-providing industries in the state of Delaware, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the health and performance of Delaware's service-based economy, which is a major driver of the state's overall 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 frameworks.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers, economists, and businesses to assess the state's economic conditions and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a short delay, providing timely information on the state's service sector performance.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Services-Providing Industries in Delaware (DEPRISERVPRORGSP), retrieved from FRED.