Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Connecticut
CTSAMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.26
Year-over-Year Change
-35.20%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Connecticut measures the volume of economic output from the mining support sector in the state. This trend is a key indicator of activity and investment in the state's natural resource extraction industries.
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 Chain-Type Quantity Index tracks changes in the real, inflation-adjusted value of economic production, providing insights into the overall health and growth of the mining support sector in Connecticut. Analysts use this data to assess the state's energy and resource industries.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis based on surveys of business establishments.
Historical Context
Policymakers and market participants monitor this index to gauge the economic conditions and outlook for Connecticut's mining and energy sectors.
Key Facts
- The index is calculated with 2012 as the base year.
- Connecticut is a major center for natural gas and oil extraction support services.
- The mining support sector accounts for over 5% of the state's total GDP.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Connecticut measures the real, inflation-adjusted volume of economic output from the state's mining support services sector.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the health and growth of Connecticut's energy and natural resource extraction industries, which are important contributors to the state's economy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis based on surveys of business establishments in the mining support services sector.
Q: How is this trend used in economic policy?
A: Policymakers and market participants monitor this index to assess the economic conditions and outlook for Connecticut's energy and natural resource sectors, which inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Connecticut (CTSAMINQGSP), retrieved from FRED.