Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Arkansas
ARMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
738.00
Year-over-Year Change
-65.65%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the mining, quarrying, and oil and gas extraction industry in Arkansas. It provides insight into the economic performance and contribution of this sector 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: Mining, Quarrying, and Oil and Gas Extraction (21) in Arkansas series tracks the inflation-adjusted value added by this industry to the state's GDP. It is a key indicator for understanding the dynamics and importance of the natural resource extraction industry in Arkansas's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for policymakers, businesses, and analysts interested in the energy and natural resource sectors in Arkansas.
Key Facts
- Arkansas is a leading producer of natural gas in the United States.
- The mining, quarrying, and oil and gas extraction industry accounts for a significant portion of Arkansas's economic output.
- Real GDP growth in this sector can impact the state's overall economic performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the mining, quarrying, and oil and gas extraction industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and contribution of the natural resource extraction industry in Arkansas, which is a key sector for 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, businesses, and analysts interested in understanding the dynamics and importance of the energy and natural resource sectors in Arkansas.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, but may be subject to revision and delays common to macroeconomic statistics.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Arkansas (ARMINRGSP), retrieved from FRED.