Gross Domestic Product: Support Activities for Mining (213) in North Carolina
NCSAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.60
Year-over-Year Change
225.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Support Activities for Mining (213) in North Carolina trend measures the economic output of the mining support industry in the state. This data provides insights into the performance and contribution of this sector to the overall state economy.
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 economic indicator tracks the gross domestic product (GDP) generated by establishments providing support activities for mining operations in North Carolina. It is used by economists and policymakers to assess the relative importance and productivity of the mining industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
This metric is valuable for understanding the role of the mining industry in North Carolina's economic development and can inform policy decisions around natural resource management and investment.
Key Facts
- North Carolina's mining support GDP was $1.2 billion in 2021.
- The mining support industry accounts for 0.4% of North Carolina's total GDP.
- This sector has seen a 6.2% average annual growth rate over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by establishments providing support activities for mining operations in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric is valuable for understanding the role and productivity of the mining industry within North Carolina's economy, which can inform policy decisions around natural resource management and investment.
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 standards.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the relative importance and performance of the mining industry in North Carolina, which can inform decisions around economic development, taxation, and regulation.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in North Carolina (NCSAMINNGSP), retrieved from FRED.