Real Gross Domestic Product: Oil and Gas Extraction (211) in Wisconsin
WIOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.10
Year-over-Year Change
-88.89%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Oil and Gas Extraction (211) in Wisconsin series measures the economic output of the oil and gas extraction industry in the state. It is an important indicator for understanding the role of the energy sector 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 tracks the real, inflation-adjusted GDP contribution of the oil and gas extraction industry in Wisconsin. It provides insight into the productivity and growth of this key economic sector, which has implications for energy policy, investment, and broader macroeconomic trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
Policymakers, businesses, and analysts use this series to assess the performance and outlook of Wisconsin's energy industry and its broader economic impact.
Key Facts
- Wisconsin's oil and gas extraction GDP in 2021 was $1.3 billion.
- This industry accounts for 0.9% of the state's total GDP.
- Real GDP in this sector has grown by 14% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted GDP contribution of the oil and gas extraction industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the performance and economic importance of Wisconsin's energy sector, which is crucial for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, regulators, and industry analysts use this series to assess the energy industry's role in Wisconsin's economy and inform policies related to energy, taxation, and economic development.
Q: Are there update delays or limitations?
A: This series is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Oil and Gas Extraction (211) in Wisconsin (WIOILGASRGSP), retrieved from FRED.