Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Illinois
ILMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,120.00
Year-over-Year Change
-19.20%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) generated by the mining sector, excluding oil and gas, in the state of Illinois. It provides insights into the performance and contribution of this important industry to the state's overall economic 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 Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Illinois series represents the inflation-adjusted value added by the mining industry, excluding oil and gas, to the state's GDP. This metric is used by economists and policymakers to analyze the health and productivity of Illinois' non-energy mining sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is relevant for understanding the broader economic dynamics and industry composition within Illinois, which can inform policy decisions and investment strategies.
Key Facts
- Illinois is a major mining state, contributing significantly to the U.S. economy.
- The mining sector, excluding oil and gas, accounts for a notable portion of Illinois' GDP.
- This trend can signal shifts in the state's economic diversification and industrial composition.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by the mining sector, excluding oil and gas, in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the non-energy mining industry to Illinois' overall economic activity, which can inform policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the broader economic dynamics and industry composition within Illinois, which can inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as the U.S. Bureau of Economic Analysis' regional GDP estimates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Illinois (ILMINEXOILGASRGSP), retrieved from FRED.