Real Gross Domestic Product: Oil and Gas Extraction (211) in Arkansas
AROILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
174.70
Year-over-Year Change
-80.92%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the oil and gas extraction industry in Arkansas. It provides insights into the economic output and performance of this critical 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: Oil and Gas Extraction (211) in Arkansas series tracks the inflation-adjusted economic value added by the oil and gas extraction industry in the state. This metric is used by economists and policymakers to analyze the health and contribution of this industry to the overall Arkansas economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the role of the energy sector in Arkansas's economic development and informing policy decisions.
Key Facts
- Arkansas is a major oil and gas producing state.
- The oil and gas extraction industry is a significant contributor to the state's economy.
- This trend has shown volatility due to fluctuations in global energy markets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the oil and gas extraction industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and contribution of the oil and gas extraction industry, which is a crucial sector in Arkansas's economy.
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 principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the role of the energy sector in Arkansas's economic development and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to regular updates from the source, and there may be lags in availability depending on the data collection and reporting process.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Oil and Gas Extraction (211) in Arkansas (AROILGASRGSP), retrieved from FRED.