Gross Domestic Product: Mining (Except Oil and Gas) (212) in Nebraska
NEMINEXOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
163.40
Year-over-Year Change
-21.86%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) generated by the mining industry, excluding oil and gas, in the state of Nebraska. It provides insights into the productivity and contribution of the non-oil and gas mining 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 GDP: Mining (Except Oil and Gas) (212) in Nebraska series tracks the economic output of the mining industry, excluding oil and gas extraction, within the state. This metric is important for policymakers and analysts to understand the relative importance and performance of different industries in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their state-level GDP estimates.
Historical Context
This economic trend is used by policymakers, businesses, and analysts to assess the health and competitiveness of Nebraska's mining sector, excluding oil and gas, and its contribution to the state's overall economic growth.
Key Facts
- Nebraska's mining GDP, excluding oil and gas, was $630 million in 2021.
- The mining sector, excluding oil and gas, accounted for 1.2% of Nebraska's total GDP in 2021.
- This economic trend has shown a steady decline since 2014, reflecting the changing composition of Nebraska's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the mining industry, excluding oil and gas, in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and contribution of the non-oil and gas mining sector to Nebraska's overall economic activity, which is important for policymakers and analysts to understand the state's economic composition and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: This economic trend is used by policymakers, businesses, and analysts to assess the health and competitiveness of Nebraska's mining sector, excluding oil and gas, and its contribution to the state's overall economic growth.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the BEA, with the most recent data available for 2021.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining (Except Oil and Gas) (212) in Nebraska (NEMINEXOILGASNGSP), retrieved from FRED.