Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Mississippi
MSNATRESMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.20
Year-over-Year Change
33.42%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Mississippi measures the real economic 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 tracks changes in the inflation-adjusted value of goods and services produced by Mississippi's natural resources and mining industries, which include oil and gas extraction, mining, and related activities. It is a key indicator of the sector's economic performance and contribution to the state's overall GDP.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This metric helps policymakers and analysts understand the role of natural resources and mining in Mississippi's economy.
Key Facts
- The index uses 2012 as the base year.
- Natural resources and mining account for over 10% of Mississippi's GDP.
- The sector experienced growth of 5.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted economic output of Mississippi's natural resources and mining sector, including industries like oil, gas, and mineral extraction.
Q: Why is this trend relevant for users or analysts?
A: The natural resources and mining sector is a crucial part of Mississippi's economy, so this index provides important insights into the performance and contribution of these industries.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to understand the role of natural resources and mining in Mississippi's economy and make informed decisions about economic development, taxation, and regulation.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Mississippi (MSNATRESMINQGSP), retrieved from FRED.