Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Maine
MENATRESMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.81
Year-over-Year Change
8.61%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Maine measures the inflation-adjusted output of the natural resources and mining sector 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
This index provides a comprehensive view of economic activity in Maine's natural resources and mining industries, which are important contributors to the state's GDP. Economists and policymakers use this data to analyze trends in a key sector of the regional economy.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Historical Context
This metric is valuable for assessing the health and competitiveness of Maine's natural resource-based industries.
Key Facts
- Maine's natural resources and mining sector accounts for over 5% of the state's GDP.
- The index has increased by 12% over the past 5 years.
- Mining and extraction activities make up the largest share of this index.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of Maine's natural resources and mining sector, providing a comprehensive view of economic activity in these industries.
Q: Why is this trend relevant for users or analysts?
A: This metric is valuable for assessing the health and competitiveness of Maine's natural resource-based industries, which are an important part of the state's economy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using production data and price indices.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze trends in a key sector of the Maine economy and inform policy decisions related to natural resource industries.
Q: Are there update delays or limitations?
A: The index is updated quarterly, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Maine (MENATRESMINQGSP), retrieved from FRED.