Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Idaho
IDMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
833.70
Year-over-Year Change
-21.93%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Idaho measures the economic output of the mining industry in Idaho, excluding oil and gas production. This trend is important for understanding the role of the mining sector in the state's economy.
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 real GDP, or inflation-adjusted economic output, of the mining industry in Idaho, excluding oil and gas extraction. It provides insight into the performance and contribution of the mining sector to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic indicators.
Historical Context
This trend is used by policymakers, economists, and businesses to analyze the economic conditions and growth of the mining industry in Idaho.
Key Facts
- Idaho's mining industry (excluding oil and gas) accounts for approximately 2% of the state's GDP.
- The mining sector in Idaho has experienced steady growth over the past decade.
- Copper, gold, and phosphate are among the top mined materials in Idaho.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the mining industry in Idaho, excluding oil and gas extraction.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and importance of the mining sector within Idaho's overall economy, which is valuable for policymakers, businesses, and economists analyzing economic conditions in the state.
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 economic indicators.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to analyze the economic conditions and growth of the mining industry in Idaho, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with some potential for minor delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Idaho (IDMINEXOILGASRGSP), retrieved from FRED.