Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Mississippi
MSOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.36
Year-over-Year Change
-11.28%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Mississippi measures the real output of the oil and gas extraction industry in the state. It provides insights into economic activity and productivity in this key 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 index tracks the volume of goods and services produced by the oil and gas extraction industry in Mississippi, adjusting for price changes. It is a valuable indicator of economic performance and an important input for policymakers and analysts evaluating the state's economic health and energy landscape.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index method.
Historical Context
This trend is closely monitored by energy economists, state officials, and industry stakeholders to understand supply, demand, and investment dynamics.
Key Facts
- The index is based on 2012 as the reference year.
- Mississippi is a top-10 oil and gas producing state in the U.S.
- The industry employs over 20,000 people in the state.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the oil and gas extraction industry in Mississippi, adjusting for price changes to provide a volume-based indicator of economic activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely watched by policymakers, energy economists, and industry stakeholders to understand production, investment, and broader economic conditions in Mississippi's oil and gas sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index method.
Q: How is this trend used in economic policy?
A: This trend provides valuable insights into the health and productivity of a key industry, informing economic policy decisions and investment strategies at the state and national level.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Mississippi (MSOILGASQGSP), retrieved from FRED.