Chain-Type Quantity Index for Real GDP: Management of Companies and Enterprises (55) in Hawaii
Annual, Not Seasonally Adjusted
HIMNGCOENTPRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.54
Year-over-Year Change
55.98%
Date Range
1/1/1997 - 1/1/2024
Summary
This series measures the annual, not seasonally adjusted Gross State Product (GSP) for the mining and quarrying sector in the United States. It provides valuable insights into the economic performance of this key industry.
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
Gross State Product (GSP) is a comprehensive measure of economic activity within a state. The mining and quarrying sector GSP trend represents the total output or value-added from this industry, offering analysts a snapshot of its contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
This economic indicator is widely used by policymakers, industry analysts, and researchers to assess the health and trajectory of the mining and quarrying sector.
Key Facts
- The mining and quarrying sector accounts for over 5% of total U.S. GSP.
- This industry saw a 10% decline in output during the 2008-2009 recession.
- Fossil fuel extraction is a major component of the mining and quarrying GSP.
FAQs
Q: What does this economic trend measure?
A: This series measures the annual, not seasonally adjusted Gross State Product (GSP) for the mining and quarrying sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides valuable insights into the economic performance and contribution of the mining and quarrying industry, which is a key sector for many state economies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: This economic indicator is widely used by policymakers, industry analysts, and researchers to assess the health and trajectory of the mining and quarrying sector.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, so it may not reflect the most recent economic conditions.
Related Trends
Value of Exports to Republic of Korea from Hawaii
HIKORA052SCEN
Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Hawaii
HIPRFRMSPRTMSMNGSP
Exports of Goods for Hawaii
EXPTOTHI
Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Hawaii
HIACCOMDQQGSP
Gross Domestic Product: Nonmetallic Mineral Product Manufacturing (327) in Hawaii
HINMMPMANNGSP
Commercial Carbon Dioxide Emissions, All Fuels for Hawaii
EMISSCO2TOTVCCTOHIA
Citation
U.S. Bureau of Economic Analysis, Annual, Not Seasonally Adjusted Gross State Product: Mining and Quarrying (HIMNGCOENTPRQGSP), retrieved from FRED.