Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Pennsylvania
PAMINEXOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.00
Year-over-Year Change
-33.37%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Pennsylvania measures the inflation-adjusted output of the mining industry in the state, excluding oil and gas extraction.
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 provides a quantitative measure of the production volume of Pennsylvania's mining sector, which is an important component of the state's economy. It helps economists and policymakers analyze trends in industrial activity and make informed decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is used to monitor the health of Pennsylvania's mining industry and its contribution to the broader state economy.
Key Facts
- The mining industry accounts for approximately 3% of Pennsylvania's GDP.
- This index has increased by 15% over the past decade.
- Pennsylvania is a major producer of coal, natural gas, and other mineral resources.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output or production volume of the mining industry in Pennsylvania, excluding oil and gas extraction.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and contribution of Pennsylvania's mining sector to the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and industry analysts to monitor trends in Pennsylvania's mining industry and its impact on the state's economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Pennsylvania (PAMINEXOILGASQGSP), retrieved from FRED.