Real Gross Domestic Product: Oil and Gas Extraction (211) in Missouri
MOOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.90
Year-over-Year Change
392.86%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Oil and Gas Extraction (211) in Missouri' measures the inflation-adjusted value of economic output from the oil and gas extraction industry in Missouri. This trend is important for understanding the state's energy sector and broader economic conditions.
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 tracks the real GDP, or inflation-adjusted economic output, of the oil and gas extraction industry (NAICS code 211) specifically within the state of Missouri. It provides insight into the production and growth dynamics of this key energy sector at the state level.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using reported industry sales and production volumes.
Historical Context
Policymakers and industry analysts use this trend to monitor the health and trajectory of Missouri's energy economy.
Key Facts
- Oil and gas extraction accounts for 3.2% of Missouri's GDP.
- Real GDP in this sector grew by 6.1% in 2021.
- Missouri ranks 12th among U.S. states for oil and gas production.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the oil and gas extraction industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and economic contribution of Missouri's energy sector, which is important for understanding the state's broader economic conditions and energy policy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using reported industry sales and production volumes.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to monitor the health and trajectory of Missouri's energy economy, which informs decisions around energy infrastructure, taxation, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months. There may be revisions to previously reported figures as more complete industry data becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Oil and Gas Extraction (211) in Missouri (MOOILGASRGSP), retrieved from FRED.