Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Florida
FLMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
866.80
Year-over-Year Change
-37.78%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the mining industry, excluding oil and gas, in the state of Florida. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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 Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Florida series represents the inflation-adjusted value added by the mining industry, excluding oil and gas, to the state's GDP. This metric is used by economists and policymakers to analyze the health and productivity of Florida's non-energy mining sector.
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
This trend is relevant for understanding the dynamics of Florida's economy and informing policy decisions related to the state's industrial development and natural resource management.
Key Facts
- Florida's mining industry (excluding oil and gas) contributed $4.2 billion to the state's GDP in 2021.
- The mining sector accounts for approximately 0.7% of Florida's total GDP.
- Florida's mining industry has experienced moderate growth in recent years, with an average annual increase of 2.5% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the mining industry, excluding oil and gas, in the state of Florida. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the dynamics of Florida's economy and informing policy decisions related to the state's industrial development and natural resource management.
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: This trend is used by economists and policymakers to analyze the health and productivity of Florida's non-energy mining sector, which can inform decisions related to industrial development and natural resource management in the state.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision policies of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or minor revisions to the historical series.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Florida (FLMINEXOILGASRGSP), retrieved from FRED.