Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Indiana
INMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,854.70
Year-over-Year Change
51.95%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the Gross Domestic Product (GDP) contribution of the mining, quarrying, and oil and gas extraction sector in the state of Indiana. It provides insights into the economic performance and importance of this 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 INMINNQGSP series represents the GDP generated by the mining, quarrying, and oil and gas extraction industry in Indiana. This data is used by economists and policymakers to analyze the economic structure and growth of this key sector within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the role of the extractive industries in Indiana's economy and can inform policy decisions related to economic development, energy, and natural resource management.
Key Facts
- Indiana's mining, quarrying, and oil and gas extraction sector contributed $4.4 billion to the state's GDP in 2020.
- This industry accounts for around 1.5% of Indiana's total economic output.
- The GDP from this sector has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) contribution of the mining, quarrying, and oil and gas extraction industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic importance and performance of a key industry within Indiana's economy, which is useful for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to economic development, energy, and natural resource management in Indiana.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months and may be subject to revisions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Indiana (INMINNQGSP), retrieved from FRED.