Gross Domestic Product: Natural Resources and Mining (11, 21) in Connecticut
CTNATRESMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
714.30
Year-over-Year Change
25.25%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the natural resources and mining sectors in Connecticut. It is important for understanding the state's economic composition and growth drivers.
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 CTNATRESMINNGSP series tracks the total value of goods and services produced by the natural resources and mining industries in Connecticut. This provides insight into the significance of these sectors within the state's overall economic activity and performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this trend to evaluate Connecticut's economic structure and competitiveness in natural resource-based industries.
Key Facts
- Connecticut's natural resources and mining GDP was $1.6 billion in 2021.
- This sector accounts for 0.6% of the state's total economic output.
- GDP in this sector has grown by 8.1% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the natural resources and mining sectors in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the significance of natural resources and mining as economic drivers within Connecticut, which is valuable for policymakers and industry analysts.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Connecticut's economic structure and competitiveness in natural resource-based industries.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bureau of Economic Analysis with typical update delays of several months.
Related Trends
Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Connecticut
CTPCEPCFOOD
All Employees: Architectural, Engineering, and Related Services in Connecticut
SMU09000006054130001A
Real Gross Domestic Product: Pipeline Transportation (486) in Connecticut
CTPIPETRANRGSP
Average Weekly Hours of All Employees: Professional and Business Services in Connecticut
SMU09000006000000002
All Employees: Professional and Business Services: Services to Buildings and Dwellings in Connecticut
SMU09000006056170001
Gross Domestic Product: Water Transportation (483) in Connecticut
CTWATTRANNGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Natural Resources and Mining (11, 21) in Connecticut (CTNATRESMINNGSP), retrieved from FRED.