Gross Domestic Product: Support Activities for Mining (213) in Indiana
INSAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.70
Year-over-Year Change
310.20%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Support Activities for Mining (213) in Indiana measures the economic output of the mining support industry in the state. This data is crucial for understanding regional economic trends and the role of the mining sector in Indiana'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 gross domestic product (GDP) for the Support Activities for Mining industry (NAICS 213) in the state of Indiana. It provides a measure of the economic output and contribution of this industry to Indiana's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established GDP accounting methods.
Historical Context
This metric is used by policymakers, analysts, and businesses to assess the health and performance of Indiana's mining support industry and its broader economic implications.
Key Facts
- Indiana's mining support GDP was $1.2 billion in 2020.
- The mining support industry accounts for 0.8% of Indiana's total GDP.
- Indiana's mining support GDP has grown by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) of the Support Activities for Mining industry (NAICS 213) in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the economic contribution and performance of Indiana's mining support industry, which is a key sector in the state's economy.
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 GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use this metric to assess the health and performance of Indiana's mining support industry and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but may have a delay of several months from the end of the reporting period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in Indiana (INSAMINNGSP), retrieved from FRED.