Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Alabama
ALPETCOALMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.76
Year-over-Year Change
-52.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Alabama measures the inflation-adjusted volume of economic output in this industry and state. It is an important indicator for analysts tracking regional manufacturing trends.
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 index tracks the real, or inflation-adjusted, gross domestic product (GDP) of the petroleum and coal products manufacturing industry in the state of Alabama. It provides a measure of the physical quantity of goods and services produced, rather than just their dollar value, which is useful for assessing underlying economic activity.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This index helps policymakers and businesses understand the performance and competitiveness of Alabama's energy manufacturing sector.
Key Facts
- Alabama is a major energy-producing state.
- Petroleum and coal manufacturing account for a significant share of state GDP.
- This index tracks real, inflation-adjusted changes in the industry's output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted gross domestic product (GDP) of the petroleum and coal products manufacturing industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the performance and competitiveness of Alabama's energy manufacturing sector, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This index helps policymakers and businesses understand the economic conditions and outlook for Alabama's energy manufacturing industry, informing decisions and policies related to this sector.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as the Bureau of Economic Analysis's broader regional GDP estimates.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Alabama (ALPETCOALMANQGSP), retrieved from FRED.