Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in the Southeast BEA Region
SESTMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.72
Year-over-Year Change
1.51%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in the Southeast BEA Region tracks inflation-adjusted economic output in this key industry for the Southeastern United States.
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 measures the real, inflation-adjusted quantity of goods and services produced by the mining, quarrying, and oil and gas extraction industry in the Southeast region. It is a useful indicator of economic activity and productivity in this important economic sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Historical Context
This metric is closely watched by policymakers, analysts, and industry participants to gauge the health and outlook of the energy and extraction economy in the Southeastern states.
Key Facts
- The Southeast region accounts for over 20% of U.S. energy production.
- This index has experienced volatility in recent years due to fluctuations in global energy markets.
- The mining and extraction industry is a major employer and economic driver in many Southeastern states.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by the mining, quarrying, and oil and gas extraction industry in the Southeast region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of economic activity and productivity in a key industry for the Southeastern states, and is closely watched by policymakers, analysts, and industry participants.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts methodology.
Q: How is this trend used in economic policy?
A: This index is used by policymakers, economists, and industry stakeholders to gauge the health and outlook of the energy and extraction economy in the Southeastern states.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and updates due to the comprehensive nature of national accounts data collection.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in the Southeast BEA Region (SESTMINQGSP), retrieved from FRED.