Real Gross Domestic Product: Support Activities for Mining (213) in Connecticut
CTSAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.60
Year-over-Year Change
-35.29%
Date Range
1/1/1997 - 1/1/2023
Summary
Real Gross Domestic Product (GDP) for Support Activities for Mining (NAICS 213) in Connecticut measures the total economic output of this industry within the state. This metric is important for analyzing the economic health and productivity of Connecticut's energy and resource extraction sectors.
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
Support Activities for Mining includes services that support the extraction of oil, gas, coal, and other minerals. This GDP series tracks the total inflation-adjusted output of this industry in Connecticut, providing insight into the state's energy and resource production economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
Policymakers and market analysts use this metric to understand Connecticut's energy and natural resource sector performance.
Key Facts
- Connecticut's mining support GDP was $619 million in 2021.
- This industry accounts for less than 1% of Connecticut's total economic output.
- Real GDP for mining support services grew 6.2% in Connecticut in 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total real (inflation-adjusted) gross domestic product (GDP) of the Support Activities for Mining industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This GDP series provides insights into the economic performance and productivity of Connecticut's energy and natural resource extraction sectors, which is valuable information for policymakers, investors, and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to understand Connecticut's energy and natural resource sector performance, which can inform economic development, taxation, and regulatory policies.
Q: Are there update delays or limitations?
A: This GDP data is typically published with a lag of several months, so it may not reflect the most current economic conditions. Additionally, the data is subject to periodic revisions by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in Connecticut (CTSAMINRGSP), retrieved from FRED.