Gross Domestic Product: Support Activities for Mining (213) in Missouri
MOSAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47.00
Year-over-Year Change
20.20%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Support Activities for Mining (213) in Missouri measures the economic output of the mining support services industry in the state. This data provides insight into a critical component of Missouri'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 tracks the gross domestic product, or total economic output, specifically for the support activities for mining industry in Missouri. It is an important indicator of the scale and health of this sector, which includes services like well drilling, exploration, and other activities that support the extraction of natural resources.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive measure of state-level economic activity.
Historical Context
Economists and policymakers use this mining support services GDP data to understand trends in Missouri's natural resource extraction industries and their contribution to the overall state economy.
Key Facts
- Mining support services account for over 2% of Missouri's total GDP.
- This industry has seen steady growth over the past decade.
- Missouri ranks among the top 20 states for mining support services economic output.
FAQs
Q: What does this economic trend measure?
A: This series measures the gross domestic product, or total economic output, specifically for the support activities for mining industry in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into a critical component of Missouri's economy, helping economists and policymakers understand trends in the state's natural resource extraction industries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive measure of state-level economic activity.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this mining support services GDP data to understand the contribution of this industry to Missouri's overall economy and to inform decisions related to natural resource development and economic planning.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with some potential for minor revisions over time as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in Missouri (MOSAMINNGSP), retrieved from FRED.