Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Hawaii
HIOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
-100.00%
Date Range
1/1/1997 - 1/1/2021
Summary
The Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Hawaii measures the real output of the oil and gas extraction industry in Hawaii. This metric is crucial for understanding the state's economic performance and energy sector dynamics.
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 the volume of goods and services produced by the oil and gas extraction industry in Hawaii, adjusting for price changes. It provides a comprehensive view of the industry's contribution to the state's overall GDP, enabling analysts to assess its relative importance and growth trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This index is widely used by policymakers, economists, and industry analysts to inform energy and economic policies in Hawaii.
Key Facts
- Hawaii's oil and gas extraction industry accounts for a small but significant portion of the state's GDP.
- The index has exhibited fluctuations in recent years, reflecting volatility in energy markets.
- Policymakers use this metric to assess the industry's contribution to Hawaii's economic growth and diversification efforts.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Hawaii measures the real output of the oil and gas extraction industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding Hawaii's economic performance and energy sector dynamics, as it provides a comprehensive view of the oil and gas extraction industry's contribution to the state's GDP.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this index to inform energy and economic policies in Hawaii, as it reflects the relative importance and growth trends of the state's oil and gas extraction industry.
Q: Are there update delays or limitations?
A: The index data is subject to the standard update schedule and limitations of the U.S. Bureau of Economic Analysis, which publishes the metric on a regular basis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Hawaii (HIOILGASQGSP), retrieved from FRED.