Gross Domestic Product: Support Activities for Mining (213) in Iowa
IASAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.80
Year-over-Year Change
145.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Support Activities for Mining (213) in Iowa metric measures the economic output of industries that support mining operations in the state. This data is crucial for understanding the health and trends of Iowa's energy and natural resource sectors.
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 series represents the total inflation-adjusted value added by industries that provide support services for mining operations in Iowa, such as exploration, drilling, and well maintenance. It is a key indicator of the economic activity and investment in Iowa's energy and natural resource extraction industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
Policymakers and market analysts use this metric to gauge the strength and direction of Iowa's mining support industries and their broader economic impact.
Key Facts
- Iowa's mining support GDP was $2.1 billion in 2021.
- Mining support activities account for 1.2% of Iowa's total GDP.
- This metric has grown by 8.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total inflation-adjusted value added by industries that provide support services for mining operations in the state of Iowa, such as exploration, drilling, and well maintenance.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the health and trends of Iowa's energy and natural resource sectors, which are important contributors to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to gauge the strength and direction of Iowa's mining support industries and their broader economic impact.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2-3 months.
Related Trends
Gross Domestic Product: Federal Civilian in Iowa
IAGOVFEDCIVNGSP
Chain-Type Quantity Index for Real GDP: Nonmetallic Mineral Product Manufacturing (327) in Iowa
IANMMPMANQGSP
Personal Consumption Expenditures: Services for Iowa
IAPCESRV
Gross Domestic Product: Government and Government Enterprises (92) in Iowa
IAGOVNQGSP
Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Iowa
IAMINQQGSP
Exports of Goods: Non-Manufactured Commodities for Iowa
EXPNONIA
Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in Iowa (IASAMINNGSP), retrieved from FRED.