Real Gross Domestic Product: Support Activities for Mining (213) in Minnesota
MNSAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.00
Year-over-Year Change
21.50%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the support activities for mining industry in Minnesota. It provides insights into the performance and contribution of this sector 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: Support Activities for Mining (213) in Minnesota series represents the inflation-adjusted value of goods and services produced by the support activities for mining industry in the state. This metric is used by economists and policymakers to analyze the economic health and productivity of this industry within Minnesota's broader 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 mining support industry in Minnesota's economic landscape and can inform policy decisions and investment strategies.
Key Facts
- Minnesota is a major mining state, particularly for iron ore and precious metals.
- The support activities for mining sector includes exploration, well operations, and other services.
- This industry contributes significantly to Minnesota's overall economic output and employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the support activities for mining industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the mining support industry to Minnesota's overall economic activity, which is valuable information for policymakers, investors, and industry 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 and investment strategies related to the mining industry and its role in Minnesota's economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve and may be subject to periodic revisions or updates.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in Minnesota (MNSAMINRGSP), retrieved from FRED.