Gross Domestic Product: Support Activities for Mining (213) in the Southeast BEA Region
SESTSAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,959.40
Year-over-Year Change
-23.57%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the economic output of support activities for mining in the Southeast region of the United States. It provides insights into the strength of the region's energy and 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
The Gross Domestic Product (GDP) for Support Activities for Mining (NAICS code 213) in the Southeast Bureau of Economic Analysis (BEA) region is a key economic indicator. It tracks the total value of goods and services produced by establishments primarily engaged in activities that support the extraction of minerals and fuels.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is closely watched by policymakers, energy companies, and economic analysts to gauge the health of the Southeast region's mining support sector.
Key Facts
- The Southeast region accounts for over 20% of U.S. mining support activities.
- GDP in this sector grew by 3.2% in 2021 after declining in 2020.
- Mining support is a key driver of economic activity in several Southeastern states.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output or GDP of establishments in the Southeast region that provide support services for the mining and extraction of minerals, oil, and natural gas.
Q: Why is this trend relevant for users or analysts?
A: The mining support services sector is an important part of the energy and resource economy in the Southeast. Tracking the GDP of this industry provides insights into the health and growth of a key regional economic driver.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using their industry-level GDP estimation methodology.
Q: How is this trend used in economic policy?
A: Policymakers, energy companies, and economic analysts closely monitor this trend to gauge the strength of the Southeast region's mining support activities and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months. There may also be revisions to historical data as part of BEA's regular update process.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in the Southeast BEA Region (SESTSAMINNGSP), retrieved from FRED.