Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Missouri
MOMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
751.00
Year-over-Year Change
-8.08%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Missouri' series measures the inflation-adjusted output of the mining industry, excluding oil and gas, within the state of Missouri. This metric is a key indicator of economic activity and productivity in this crucial sector.
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 real, or inflation-adjusted, value added by the mining industry (excluding oil and gas) to Missouri's gross domestic product. It is an important measure of the health and performance of this segment of the state's economy, which can inform policy decisions and economic forecasting.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
Policymakers and analysts use this metric to assess the economic conditions and growth trends in Missouri's mining industry, which can have broader implications for the state's overall economic performance.
Key Facts
- Mining (excluding oil and gas) accounts for 2.1% of Missouri's GDP.
- This sector has seen 3.2% average annual growth over the past 5 years.
- Missouri ranks 17th among U.S. states in mining (except oil and gas) output.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) contribution of the mining industry, excluding oil and gas, within the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and economic importance of Missouri's mining sector, which can inform policy decisions and economic forecasting for the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the conditions and growth trends in Missouri's mining industry, which can have broader implications for the state's overall economic performance.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Missouri (MOMINEXOILGASRGSP), retrieved from FRED.