Gross Domestic Product: Mining (Except Oil and Gas) (212) in Rhode Island
RIMINEXOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.70
Year-over-Year Change
457.44%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Mining (Except Oil and Gas) (212) in Rhode Island measures the economic output of the mining sector, excluding oil and gas, in the state. This trend provides insights into a key component of Rhode Island'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 economic indicator tracks the gross domestic product, or total value of goods and services produced, within the mining industry in Rhode Island. It is an important measure of economic activity and productivity in this specific sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Policymakers and analysts use this trend to understand the performance and contributions of Rhode Island's mining industry to the overall state economy.
Key Facts
- Mining (except oil and gas) accounts for a small but important part of Rhode Island's economy.
- This trend has shown steady growth over the past decade.
- The mining sector in Rhode Island is more diversified than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product, or total economic output, of the mining industry (excluding oil and gas) in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contributions of a key sector of Rhode Island's economy, which can inform policymaking and business decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand the role of the mining industry in Rhode Island's overall economic landscape and to inform policies and investments that support this sector.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
Related Trends
All Employees: Education and Health Services: Private Colleges, Universities, and Professional Schools in Rhode Island
SMU44000006561130001
Gross Domestic Product: Information (51) in Rhode Island
RIINFONGSP
Average Hourly Earnings of All Employees: Education and Health Services in Rhode Island
SMU44000006500000003A
Gross Domestic Product: Computer and Electronic Product Manufacturing (334) in Rhode Island
RICPUELCPMANNGSP
All Employees: Private Service Providing in Rhode Island
SMS44000000800000001
All Employees: Education and Health Services: Health Care and Social Assistance in Rhode Island
SMS44000006562000001
Citation
U.S. Federal Reserve, Gross Domestic Product: Mining (Except Oil and Gas) (212) in Rhode Island (RIMINEXOILGASNGSP), retrieved from FRED.