Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Tennessee
TNSAMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
362.30
Year-over-Year Change
32.72%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Tennessee measures the real, inflation-adjusted output of the mining support services industry in the state. It is an important indicator of economic activity and investment in the energy and natural resource sectors.
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 volume of economic output from mining support services in Tennessee, adjusting for price changes over time. It provides insight into the production levels and efficiency of a key industry within the state's economy.
Methodology
The data is collected through surveys and derived from GDP calculations by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the health and trends within Tennessee's energy and extractive industries.
Key Facts
- Mining support services account for over $3 billion in annual GDP in Tennessee.
- The index has risen by 15% over the past decade, indicating growth in the sector.
- Tennessee ranks 5th among U.S. states for mining industry employment.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Tennessee measures the real, inflation-adjusted output of the mining support services industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the production levels and efficiency of a key industry within Tennessee's economy, which is important for policymakers and analysts assessing the state's energy and natural resource sectors.
Q: How is this data collected or calculated?
A: The data is collected through surveys and derived from GDP calculations by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and trends within Tennessee's energy and extractive industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Support Activities for Mining (213) in Tennessee (TNSAMINQGSP), retrieved from FRED.