Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska
NEMINQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.17
Year-over-Year Change
-14.01%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska measures the real output of the mining, quarrying, and oil and gas extraction industry in the state. This metric is important for analyzing economic growth and the contribution of the energy sector to Nebraska'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 index tracks the real, inflation-adjusted quantity of goods and services produced by the mining, quarrying, and oil and gas extraction industry in Nebraska. It provides a gauge of the industry's economic output and productivity over time, which is crucial for policymakers and analysts studying the state's energy and natural resource sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level real GDP data.
Historical Context
This index is used by economists and policymakers to assess the health and trends within Nebraska's energy and natural resource industries.
Key Facts
- The index has a base year of 2012.
- Mining, quarrying, and oil/gas extraction account for over 10% of Nebraska's GDP.
- The index reached an all-time high in 2019 before declining in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the mining, quarrying, and oil and gas extraction industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the performance and contribution of Nebraska's energy and natural resource sectors to the state's overall economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level real GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the health and trends within Nebraska's energy and natural resource industries, which are important drivers of the state's economy.
Q: Are there update delays or limitations?
A: The index is published quarterly, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska (NEMINQQGSP), retrieved from FRED.