Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Oregon
ORPETCOALMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159.40
Year-over-Year Change
66.74%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the petroleum and coal products manufacturing industry in Oregon. It provides insights into the economic output and productivity of this key industrial 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
The Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Oregon series tracks the inflation-adjusted economic output of firms engaged in the transformation of crude petroleum and coal into usable products, such as fuel oils, lubricants, and asphalt. This metric is widely used by economists and policymakers to analyze industrial performance and guide economic policy decisions.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
This trend is relevant for understanding Oregon's energy industry and informing policies related to energy production, consumption, and environmental impact.
Key Facts
- Oregon's petroleum and coal products manufacturing industry accounts for a significant portion of the state's GDP.
- This industry is a major employer and contributor to Oregon's economy.
- Trends in this sector can signal shifts in energy demand and production in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the petroleum and coal products manufacturing industry in the state of Oregon.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and productivity of a key industrial sector in Oregon, which is important for understanding the state's energy industry and informing related economic policies.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Trends in this sector can signal shifts in energy demand and production, which is relevant for policymakers and analysts focused on energy policy, industrial output, and environmental impact.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have publication delays typical of economic statistics.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Oregon (ORPETCOALMANRGSP), retrieved from FRED.