Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Tennessee
TNMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.15
Year-over-Year Change
26.30%
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 Tennessee measures the real output of this industry in the state. This metric is important for economists and policymakers to assess the health and growth of Tennessee's extractive 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 real, inflation-adjusted production volume of the mining, quarrying, and oil and gas extraction sector in Tennessee. It is a key indicator of activity and productivity in this major component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This trend provides insight into market conditions and investment in Tennessee's energy and resources industries.
Key Facts
- Tennessee is a leading producer of coal, natural gas, and limestone.
- Mining and extraction account for over 2% of Tennessee's GDP.
- This index uses 2012 as the base year.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted production volume of the mining, quarrying, and oil and gas extraction sector in Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and growth of a key industry in Tennessee's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and industry analysts to assess market conditions and investment in Tennessee's energy and resources sectors.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay.
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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 Tennessee (TNMINQGSP), retrieved from FRED.