Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Arkansas
AROILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.32
Year-over-Year Change
-80.93%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Arkansas measures the volume of economic activity in the oil and gas extraction industry within the state. This metric is closely watched by economists and policymakers to gauge the health and trends of a key energy 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
This index provides a standardized measure of the real output volume of the oil and gas extraction industry in Arkansas, accounting for changes in prices over time. It is a valuable indicator of economic productivity and investment in this critical energy industry within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and administrative records.
Historical Context
The index is used by government agencies, industry analysts, and economists to monitor the state's energy production and guide relevant economic policies.
Key Facts
- Arkansas is a major oil and gas producing state.
- The index has a base year of 2012 = 100.
- The index helps track the economic impact of energy policy changes.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output volume of the oil and gas extraction industry in Arkansas, adjusting for price changes over time.
Q: Why is this trend relevant for users or analysts?
A: The index provides valuable insights into the productivity and economic importance of the oil and gas sector within the state, informing business decisions and policy analysis.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this index using surveys and administrative records.
Q: How is this trend used in economic policy?
A: Government agencies, industry groups, and economists use this index to monitor energy production, investment, and the economic impact of policy changes in the oil and gas sector.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the Federal Reserve, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Arkansas (AROILGASQGSP), retrieved from FRED.