Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Wisconsin
WIMINEXOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83.25
Year-over-Year Change
20.54%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Wisconsin measures the inflation-adjusted output of the mining industry in the state, excluding oil and gas extraction.
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 provides a way to track changes in the real economic production of the mining sector in Wisconsin over time, which is an important indicator of industrial activity and can inform economic policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
Policymakers and analysts monitor this index to assess the health of Wisconsin's mining industry and its contribution to the broader state economy.
Key Facts
- The mining industry (excluding oil and gas) accounts for approximately 2% of Wisconsin's GDP.
- The index uses 2012 as the base year with a value of 100.
- Index values above 100 indicate real output growth, while values below 100 signal contraction.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Wisconsin measures the inflation-adjusted output of the mining industry in the state, excluding oil and gas extraction.
Q: Why is this trend relevant for users or analysts?
A: This index provides an important indicator of industrial activity and economic performance in Wisconsin, which can inform policy decisions and analysis of the state's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the health of Wisconsin's mining industry and its contribution to the broader state economy.
Q: Are there update delays or limitations?
A: The index data is published regularly by the U.S. Federal Reserve, but may be subject to revision and update delays typical of economic statistics.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Wisconsin (WIMINEXOILGASQGSP), retrieved from FRED.