Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Pennsylvania
PASAMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139.93
Year-over-Year Change
23.32%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Pennsylvania measures the real output of the mining support activities sector in the state. It is an important indicator of economic activity and investment in the state's energy and natural resource industries.
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 real output from companies that provide support services for the oil, gas, and mining industries in Pennsylvania. It is used by economists and policymakers to assess the health and trends within the state's energy and natural resource sectors.
Methodology
The data is collected through surveys of businesses and calculated as a chain-type quantity index by the U.S. Bureau of Economic Analysis.
Historical Context
The index is valuable for understanding the broader economic conditions in Pennsylvania and helping to inform policy decisions related to the state's energy and natural resource industries.
Key Facts
- Pennsylvania is a major producer of natural gas.
- The mining support services sector accounts for over $1 billion in annual GDP in Pennsylvania.
- This index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or volume of production, from companies that provide support services for the oil, gas, and mining industries in Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for understanding the health and trends within Pennsylvania's energy and natural resource sectors, which are a critical part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and calculated as a chain-type quantity index by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This index helps inform policy decisions related to Pennsylvania's energy and natural resource industries, as it provides insight into the level of economic activity and investment in these sectors.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of a few months, so there may be delays in the most recent information. Additionally, the index may not capture all aspects of the mining support services sector in Pennsylvania.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Pennsylvania (PASAMINQGSP), retrieved from FRED.