Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Colorado
COMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,541.30
Year-over-Year Change
-16.01%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) from the mining, quarrying, and oil and gas extraction industry in Colorado. It provides insights into the productivity and economic contribution of this important 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 COMINNQGSP series tracks the GDP, or total economic output, specifically from the mining, quarrying, and oil and gas extraction industry in the state of Colorado. This data is a key indicator of the strength and growth of this energy-focused economic segment within the broader Colorado economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methodologies.
Historical Context
This industry-level GDP data helps policymakers and analysts assess the role of natural resource extraction in Colorado's economic performance and development.
Key Facts
- Colorado is a major energy-producing state.
- Mining, quarrying, and oil/gas account for over 10% of Colorado's GDP.
- This industry GDP data is released quarterly by the BEA.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) specifically from the mining, quarrying, and oil and gas extraction industry in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This industry-level GDP data provides insights into the productivity and economic contribution of Colorado's energy sector, which is an important driver of the state'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 standard GDP accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this industry-specific GDP data to assess the role of natural resource extraction in Colorado's overall economic performance and development.
Q: Are there update delays or limitations?
A: This GDP data is released quarterly by the BEA, so there may be a short delay between the end of the reference period and the data publication.
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Citation
U.S. Bureau of Economic Analysis, Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Colorado (COMINNQGSP), retrieved from FRED.