Gross Domestic Product: Mining (Except Oil and Gas) (212) in Colorado
COMINEXOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,877.40
Year-over-Year Change
-13.38%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Mining (Except Oil and Gas) (212) in Colorado trend measures the economic output of the mining industry, excluding oil and gas, within the state of Colorado. This metric is important for understanding the composition and performance of Colorado's economy.
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 series represents the gross domestic product (GDP) generated by the mining industry, excluding oil and gas extraction, in the state of Colorado. It provides insight into the relative economic importance and growth of this specific sector within the broader Colorado economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to gauge the health and competitiveness of Colorado's mining industry and its contribution to the state's overall economic performance.
Key Facts
- Colorado is a major mining state, accounting for a significant portion of U.S. mining output.
- The mining industry, excluding oil and gas, makes up a sizable share of Colorado's overall economic activity.
- This trend helps track the performance and competitiveness of Colorado's mining sector over time.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the mining industry, excluding oil and gas extraction, within the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic importance and performance of Colorado's mining sector, which is a significant contributor to the state's overall economic activity.
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: Policymakers and analysts use this trend to gauge the health and competitiveness of Colorado's mining industry and its contribution to the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other GDP-related statistics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining (Except Oil and Gas) (212) in Colorado (COMINEXOILGASNGSP), retrieved from FRED.