Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in North Dakota
NDPETCOALMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
377.40
Year-over-Year Change
158.32%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the petroleum and coal products manufacturing industry in North Dakota. It provides insights into the economic output and growth of this key sector 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 Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in North Dakota trend tracks the economic activity and production levels of companies involved in the extraction, refining, and manufacturing of petroleum and coal-based products in the state. This data point is used by economists and policymakers to assess the health and competitiveness of North Dakota's energy industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This metric is relevant for understanding North Dakota's energy-driven economy and informing policy decisions related to the state's energy sector.
Key Facts
- North Dakota is a major energy-producing state in the U.S.
- The petroleum and coal products industry is a significant contributor to the state's GDP.
- This trend can indicate the economic health and growth of North Dakota's energy sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the petroleum and coal products manufacturing industry in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic output and growth of North Dakota's energy sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health and competitiveness of North Dakota's energy industry, which informs policy decisions related to the state's energy sector.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological limitations of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in North Dakota (NDPETCOALMANNGSP), retrieved from FRED.