Real Gross Domestic Product: Support Activities for Mining (213) in Wisconsin
WISAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.70
Year-over-Year Change
533.33%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Support Activities for Mining (213) in Wisconsin measures the economic output of the mining support sector in the state. This data point is important for analyzing Wisconsin's economic activity and trends in the natural resource industries.
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 inflation-adjusted value added by establishments primarily engaged in support activities for mining operations within the state of Wisconsin. It is a key indicator of the scale and health of the mining industry and its contribution to the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting practices.
Historical Context
Policymakers and industry analysts use this metric to inform decisions about investments, regulations, and economic development strategies.
Key Facts
- Wisconsin's mining support GDP peaked in 2014.
- Mining contributes over 3% to Wisconsin's total economic output.
- The mining support sector employs over 6,000 workers in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) from support activities for mining operations in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data point is important for understanding the scale and health of Wisconsin's natural resource industries and their contribution to the broader state 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 established national accounting practices.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to inform decisions about investments, regulations, and economic development strategies related to Wisconsin's mining sector.
Q: Are there update delays or limitations?
A: This data series is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in Wisconsin (WISAMINRGSP), retrieved from FRED.