Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Pennsylvania
PAPETCOALMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,540.80
Year-over-Year Change
295.72%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the petroleum and coal products manufacturing industry in Pennsylvania. It provides insight into the economic activity and output of this key industrial sector within the state.
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 petroleum and coal products manufacturing industry in Pennsylvania represents the total value of goods and services produced by this industry in the state. It is an important indicator of the scale and performance of this critical manufacturing segment, which includes the production of fuels, lubricants, and other petroleum-based products.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic modeling.
Historical Context
This trend is closely watched by policymakers, industry analysts, and investors to gauge the health and competitiveness of Pennsylvania's energy manufacturing sector.
Key Facts
- Pennsylvania is a major energy-producing state.
- The petroleum and coal products industry is a key driver of the state's economy.
- This GDP trend provides timely data on industry performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the petroleum and coal products manufacturing industry in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insight into the scale and performance of a critical manufacturing segment within Pennsylvania's economy, which is closely watched by policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to gauge the health and competitiveness of Pennsylvania's energy manufacturing sector, which informs economic and energy policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with some lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Pennsylvania (PAPETCOALMANNGSP), retrieved from FRED.