Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Wisconsin
WINATRESMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,424.10
Year-over-Year Change
46.05%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the natural resources and mining industries in the state of Wisconsin. It provides insights into the performance and contribution of these key sectors to the state's overall economic activity.
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 Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Wisconsin series represents the inflation-adjusted output of the natural resources and mining industries in the state. It is a valuable indicator for understanding the health and trends within these important economic sectors, which include activities such as oil and gas extraction, mining, and logging.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methodologies.
Historical Context
This economic indicator is widely used by policymakers, industry analysts, and researchers to assess the performance and contribution of Wisconsin's natural resources and mining sectors within the broader state economy.
Key Facts
- Wisconsin's natural resources and mining sector accounts for approximately 2% of the state's total GDP.
- The industry has seen modest growth over the past decade, reflecting stable demand for Wisconsin's natural resources.
- Mining and extraction activities make up the largest component of this economic trend.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the natural resources and mining industries in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the performance and contribution of Wisconsin's natural resources and mining sectors, which are important components of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methodologies.
Q: How is this trend used in economic policy?
A: This economic indicator is widely used by policymakers, industry analysts, and researchers to assess the performance and contribution of Wisconsin's natural resources and mining sectors within the broader state economy.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the BEA, but may be subject to revisions and updates over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Wisconsin (WINATRESMINRGSP), retrieved from FRED.