Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Arizona
AZSAMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
291.93
Year-over-Year Change
98.54%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Arizona measures the real output of the mining support services industry in the state. This metric is important for economists and policymakers to understand industry-specific economic trends and assess the health of the state's mining 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 the inflation-adjusted production of services that support mining operations, such as well drilling, exploration, and site preparation. It provides a measure of the real economic activity in this key industry within Arizona's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using quantity-weighted indexes to track changes in real output.
Historical Context
Monitoring this industry-specific index can inform state-level economic policies and investment decisions related to the mining sector.
Key Facts
- Arizona is a major mining state, producing copper, gold, and other minerals.
- The mining industry accounts for over 2% of Arizona's GDP.
- This index has declined by 7% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the mining support services industry in Arizona, including activities like well drilling, exploration, and site preparation.
Q: Why is this trend relevant for users or analysts?
A: Monitoring this industry-specific index can provide valuable insights into the health and performance of Arizona's mining sector, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using quantity-weighted indexes to track changes in real output.
Q: How is this trend used in economic policy?
A: This index can inform state-level economic policies and investment decisions related to the mining industry in Arizona.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve, with a typical 2-month lag in availability.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Arizona (AZSAMINQGSP), retrieved from FRED.