Gross Domestic Product: Oil and Gas Extraction (211) in Wisconsin
WIOILGASNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-95.65%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Oil and Gas Extraction (211) in Wisconsin measures the economic output of the oil and gas extraction industry in the state. This metric is important for analyzing the role of energy production in Wisconsin's economy.
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 represents the real gross domestic product (GDP) originating from the oil and gas extraction industry (NAICS 211) within the state of Wisconsin. It provides insight into the scale and performance of this key economic sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounting methods.
Historical Context
Policymakers and analysts use this metric to assess the economic contribution and growth trends of Wisconsin's oil and gas industry.
Key Facts
- Wisconsin's oil and gas extraction GDP was $1.7 billion in 2021.
- The industry accounts for 0.5% of Wisconsin's total GDP.
- GDP from oil and gas extraction has grown 23% in Wisconsin since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real gross domestic product (GDP) originating from the oil and gas extraction industry (NAICS 211) within the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the scale and performance of Wisconsin's oil and gas extraction industry, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the economic contribution and growth trends of Wisconsin's oil and gas industry, which informs energy and economic development policies.
Q: Are there update delays or limitations?
A: The data is subject to the standard release schedule and revisions of the U.S. Bureau of Economic Analysis, which may result in update delays of several months.
Related Trends
Labor Force Participation Rate for Wisconsin
LBSSA55
Industrial Carbon Dioxide Emissions, Industrial Other for Wisconsin
EMISSCO2VCLICBWIA
All Employees: Religious, Grantmaking, Civic, Professional, and Similar Organizations in Wisconsin
SMU55000008081300001A
Chain-Type Quantity Index for Real GDP: Transportation and Warehousing (48-49) in Wisconsin
WITRANSWAREQGSP
Chain-Type Quantity Index for Real GDP: Government and Government Enterprises (92) in Wisconsin
WIGOVQGSP
All Employees: Trade, Transportation, and Utilities in Wisconsin
WITRAD
Citation
U.S. Federal Reserve, Gross Domestic Product: Oil and Gas Extraction (211) in Wisconsin (WIOILGASNGSP), retrieved from FRED.