Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Alabama
Annual, Not Seasonally Adjusted
ALMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,484.30
Year-over-Year Change
-31.13%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the annual rate of industrial production in the United States. It is a key indicator of the health and performance of the U.S. manufacturing sector.
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 industrial production index tracks changes in the total inflation-adjusted output of U.S. manufacturing, mining, and electric and gas utilities. It is a widely followed metric for assessing the strength of the broader economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve.
Historical Context
The industrial production index is closely monitored by policymakers, economists, and investors to gauge overall economic conditions.
Key Facts
- The index uses 2017 as the base year with a value of 100.
- Mining and utilities account for around 20% of the total index.
- Fluctuations in the index correlate with changes in GDP and employment.
FAQs
Q: What does this economic trend measure?
A: The Annual, Not Seasonally Adjusted series measures the total annual output of the U.S. industrial sector, including manufacturing, mining, and utilities.
Q: Why is this trend relevant for users or analysts?
A: The industrial production index is a critical indicator of the overall health and direction of the U.S. economy, providing insights into manufacturing activity, business investment, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on monthly surveys of industrial facilities.
Q: How is this trend used in economic policy?
A: The industrial production index is closely monitored by policymakers, economists, and investors to assess the strength of the U.S. economy and inform decisions related to monetary policy, fiscal policy, and business strategy.
Q: Are there update delays or limitations?
A: The industrial production data is released monthly by the Federal Reserve, with a typical delay of around a month from the end of the reference period.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ALMINRGSP), retrieved from FRED.