Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Colorado
CONATRESMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.04
Year-over-Year Change
71.99%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Colorado measures the inflation-adjusted output of the natural resources and mining industries in the state.
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 economic indicator provides insight into the production and productivity trends within Colorado's key natural resource and mining sectors, which are important contributors to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this index to gauge the health and competitiveness of Colorado's natural resources and mining industries.
Key Facts
- The index is calculated using a chain-type quantity index formula.
- Colorado's natural resources and mining industries account for over 5% of the state's GDP.
- The index can signal emerging trends in energy, mineral, and agricultural production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of Colorado's natural resources and mining industries, which include sectors like oil and gas extraction, mining, and agriculture.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and competitiveness of key industries that contribute significantly to Colorado's economic growth and employment.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the health and competitiveness of Colorado's natural resources and mining sectors, which can inform decisions around regulation, taxation, and economic development initiatives.
Q: Are there update delays or limitations?
A: The index data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
Related Trends
Mining Wages and Salaries in Colorado
COWMIN
Per Capita Personal Consumption Expenditures: Services: Recreation Services for Colorado
COPCEPCSRECSRV
Spliced Business Formations Within Eight Quarters: Total for All NAICS in Colorado
BFSBF8QTOTALNSACO
Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Colorado
COSOCASSQGSP
Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Colorado
COOTHTRANQGSP
All Employees: Other Services: Religious, Grantmaking, Civic, Professional, and Similar Organizations in Colorado
SMU08000008081300001SA
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Colorado (CONATRESMINQGSP), retrieved from FRED.