Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Idaho
Annual, Not Seasonally Adjusted
IDMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,369.80
Year-over-Year Change
88.26%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the total annual value of industrial production in the United States, providing a comprehensive overview of the country's manufacturing and industrial activity.
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 Industrial Production Index tracks the real output of manufacturing, mining, and electric and gas utilities. It is a key economic indicator used by policymakers and analysts to assess the health and direction of the U.S. industrial sector.
Methodology
The data is compiled by the Federal Reserve based on surveys of industrial facilities.
Historical Context
The Industrial Production Index is a critical input for economic forecasts and policy decisions.
Key Facts
- The index uses 2017 as the base year, with a value of 100.
- Mining and utilities account for approximately 20% of the total index.
- The index reached an all-time high of 103.4 in November 2021.
FAQs
Q: What does this economic trend measure?
A: The Industrial Production Index measures the real output of the manufacturing, mining, and utilities sectors in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Industrial Production Index is a key indicator of the health and direction of the U.S. industrial sector, providing important insights for economic forecasting and policy decisions.
Q: How is this data collected or calculated?
A: The data is compiled by the Federal Reserve based on surveys of industrial facilities.
Q: How is this trend used in economic policy?
A: The Industrial Production Index is a critical input for economic forecasts and policy decisions, as it reflects the overall strength and performance of the U.S. industrial sector.
Q: Are there update delays or limitations?
A: The Industrial Production Index is published monthly, with a typical release delay of around two weeks.
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Citation
U.S. Federal Reserve, Industrial Production: Total Index, Not Seasonally Adjusted (IDMINNGSP), retrieved from FRED.