Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Wisconsin
WIMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
532.30
Year-over-Year Change
20.54%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Wisconsin measures the inflation-adjusted economic 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 series provides insights into the performance and contribution of the mining sector, excluding oil and gas, to Wisconsin's overall economic activity. It is a key indicator for understanding structural shifts and productivity trends within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and industry analysts use this metric to evaluate the competitive position and growth prospects of Wisconsin's mining industry.
Key Facts
- Wisconsin's mining GDP excluding oil and gas was $1.31 billion in 2021.
- The mining sector accounts for 1.1% of Wisconsin's total GDP.
- Real mining GDP in Wisconsin has grown at an average annual rate of 2.5% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted economic output of the mining industry in Wisconsin, excluding oil and gas extraction.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and contribution of the mining sector to Wisconsin's overall economic activity, which is important for understanding structural shifts and productivity trends within 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 industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to evaluate the competitive position and growth prospects of Wisconsin's mining industry.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Wisconsin (WIMINEXOILGASRGSP), retrieved from FRED.