Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Colorado
COMINEXOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.25
Year-over-Year Change
-34.12%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Colorado measures the volume of mining output, excluding oil and gas, in the state. This metric provides insight into the productivity and growth of a key industry within 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 index tracks the real, inflation-adjusted quantity of mining output in Colorado, excluding oil and gas extraction. It is a valuable indicator for economists and policymakers to assess the health and trends in the state's broader mining sector beyond just energy resources.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Historical Context
This index is used to monitor the mining industry's contribution to Colorado's overall economic performance and guide policy decisions.
Key Facts
- Colorado is a top-10 mining state in the U.S.
- Mining contributed over $10 billion to Colorado's GDP in 2020.
- The mining index excludes oil and gas extraction
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of mining output in Colorado, excluding oil and gas extraction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and growth of a key industry within Colorado's economy, which is valuable for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Q: How is this trend used in economic policy?
A: This index is used to monitor the mining industry's contribution to Colorado's overall economic performance and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, though there may be some delays in the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Colorado (COMINEXOILGASQGSP), retrieved from FRED.