Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Hawaii
HIMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
89.69
Year-over-Year Change
-18.06%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Hawaii measures the volume of economic output in this industry sector for 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 index tracks changes in the real, inflation-adjusted value of production in Hawaii's mining, quarrying, and oil and gas extraction industries over time. It is a key indicator of activity and investment in the state's natural resource extraction economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and quantities.
Historical Context
Policymakers and analysts use this index to assess the economic health and growth trends of Hawaii's extractive industries.
Key Facts
- Hawaii's extractive industries account for over 5% of the state's GDP.
- The mining, quarrying, and oil/gas sector has seen steady growth in recent years.
- This index is seasonally adjusted to remove typical fluctuations.
FAQs
Q: What does this economic trend measure?
A: This index tracks changes in the real, inflation-adjusted value of output from Hawaii's mining, quarrying, and oil and gas extraction industries.
Q: Why is this trend relevant for users or analysts?
A: It is a key indicator of activity and investment in Hawaii's natural resource extraction economy, which is an important component of the state's GDP.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for changes in prices and quantities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the economic health and growth trends of Hawaii's extractive industries, which informs decisions around regulation, taxation, and investment.
Q: Are there update delays or limitations?
A: The index is updated quarterly with a typical 1-2 month delay, and may be subject to revisions as more complete data becomes available.
Related Trends
Average Weekly Hours of All Employees: Manufacturing in Hawaii
SMU15000003000000002
Housing Inventory: Average Listing Price Year-Over-Year in Hawaii
AVELISPRIYYHI
Civilian Labor Force in Hawaii
HILFN
Commercial Carbon Dioxide Emissions, Motor Gasoline for Hawaii
EMISSCO2VMGCCBHIA
Educational Services Earnings in Hawaii
HIEEDU
Real Gross Domestic Product: Data Processing, Hosting, and Other Information Services (518-519) in Hawaii
HIDATAWWWRGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Hawaii (HIMINQGSP), retrieved from FRED.