Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Arizona
AZMINQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.20
Year-over-Year Change
-26.31%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Arizona measures the real output of this industry in the state. It is an important indicator for understanding the economic performance and growth of Arizona's natural resource extraction 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
This index tracks changes in the real, inflation-adjusted value of goods and services produced by the mining, quarrying, and oil and gas extraction industry in Arizona. It is a key metric used by economists and policymakers to analyze trends in the state's natural resource-based economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This index provides insight into a critical component of Arizona's economy and can inform decisions around natural resource development, industry regulation, and economic policy.
Key Facts
- Arizona's mining, quarrying, and oil/gas extraction industry accounts for over 3% of the state's GDP.
- This index has risen by 25% over the past decade, indicating growth in the sector.
- The index experienced a sharp decline during the 2008-2009 recession but has since rebounded.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Arizona measures the real, inflation-adjusted output of this industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into a key component of Arizona's economy, helping economists and policymakers analyze trends in the state's natural resource-based industries.
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 methods.
Q: How is this trend used in economic policy?
A: This index can inform decisions around natural resource development, industry regulation, and broader economic policy in Arizona.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, with a typical 1-2 month lag in data availability.
Related Trends
Administrative and Waste Services Wages and Salaries in Arizona
AZWADM
All Employees: State Government Educational Services in Arizona
SMU04000009092161101A
All Employees: Transportation and Utilities: Truck Transportation in Arizona
SMU04000004348400001SA
Real Median Household Income in Arizona
MEHOINUSAZA672N
Mining Wages and Salaries in Arizona
AZWMIN
Number of Banks in Arizona
X08ABAZ
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Arizona (AZMINQQGSP), retrieved from FRED.