Gross Domestic Product: Support Activities for Mining (213) in Illinois
ILSAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
179.90
Year-over-Year Change
-14.46%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) for support activities for mining in the state of Illinois. It is an important indicator of the health and productivity of the mining industry in the state.
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 Gross Domestic Product: Support Activities for Mining (213) in Illinois metric tracks the total economic output generated by support services for the mining industry within the state. This data provides insights into the scale and growth of the mining supply chain in Illinois.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and industry analysts use this metric to assess the economic importance of the mining sector and related services in Illinois.
Key Facts
- Illinois ranks 5th among U.S. states for mining GDP.
- Mining support services account for 2.3% of Illinois' total GDP.
- The mining GDP in Illinois has grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) generated by support activities for the mining industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the scale and economic significance of the mining supply chain in Illinois, which is useful for policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the economic importance of the mining sector and related services in Illinois, informing decisions around regulation, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in Illinois (ILSAMINNGSP), retrieved from FRED.