Real Gross Domestic Product: Support Activities for Mining (213) in Rhode Island
RISAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of support activities for mining in the state of Rhode Island. It provides important insights into the performance and contribution of this sector to the state'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
The Real Gross Domestic Product: Support Activities for Mining (213) in Rhode Island series tracks the inflation-adjusted economic output of businesses that provide support services for the mining industry in the state. This metric is used by economists and policymakers to analyze the health and growth of this key industry within Rhode Island's broader economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the state's economic composition, competitiveness, and policy needs related to the mining support sector.
Key Facts
- Rhode Island's mining support GDP was $84 million in 2021.
- This sector accounts for 0.3% of the state's total economic output.
- Mining support GDP grew by 4.2% in Rhode Island from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of businesses that provide support services for the mining industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and contribution of the mining support sector to Rhode Island's overall economic landscape.
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 trend is relevant for policymakers and economists analyzing the state's economic composition, competitiveness, and policy needs related to the mining support industry.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the information is compiled based on comprehensive national accounting methodologies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in Rhode Island (RISAMINRGSP), retrieved from FRED.