Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Arizona
AZMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,329.00
Year-over-Year Change
0.17%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the Gross Domestic Product (GDP) of the mining, quarrying, and oil and gas extraction sector in the state of Arizona. It provides insight into the performance and contribution of this key industry to the state'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
The AZMINNQGSP series represents the GDP originating from the mining, quarrying, and oil and gas extraction sector in Arizona. This data is used by economists and policymakers to analyze the economic health and growth trends of this important industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
This trend is relevant for understanding the role of natural resource extraction in Arizona's economy and informing policy decisions related to the energy and mining sectors.
Key Facts
- Arizona's mining, quarrying, and oil/gas extraction sector accounts for over 4% of the state's total GDP.
- This industry has experienced steady growth in Arizona over the past decade.
- The AZMINNQGSP data is released quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The AZMINNQGSP series measures the Gross Domestic Product (GDP) originating from the mining, quarrying, and oil and gas extraction sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic contribution of Arizona's natural resource extraction industries, which are crucial for understanding the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to inform decisions related to the energy, mining, and natural resource sectors in Arizona, as well as to assess the broader economic impact of these industries.
Q: Are there update delays or limitations?
A: The AZMINNQGSP data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 1-2 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Arizona (AZMINNQGSP), retrieved from FRED.