Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Mississippi
MSNATRESMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,668.70
Year-over-Year Change
33.43%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the natural resources and mining sector in Mississippi. It provides insight into the productivity and economic contribution of this critical industry within 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
The Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Mississippi metric tracks the inflation-adjusted value added by the natural resources and mining industries to the state's overall economic output. It serves as an important indicator of the sector's health and its role in Mississippi's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government surveys and economic models.
Historical Context
Policymakers and analysts use this trend to assess the economic performance and competitiveness of Mississippi's natural resources and mining sector.
Key Facts
- Mississippi's natural resources and mining sector accounts for over 5% of the state's GDP.
- This industry contributed more than $5 billion to Mississippi's economy in 2021.
- The sector employs over 20,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the natural resources and mining sector in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic contribution of Mississippi's critical natural resources and mining industries, which are key drivers of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of government surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic performance and competitiveness of Mississippi's natural resources and mining sector, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Mississippi (MSNATRESMINRGSP), retrieved from FRED.