Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia
Annual, Not Seasonally Adjusted
DCMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures U.S. mining production on an annual basis without adjusting for seasonal factors. This provides a raw view of the mining industry's annual performance.
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 'Annual, Not Seasonally Adjusted' series from the U.S. Federal Reserve tracks the total real output of the U.S. mining sector. It serves as a key barometer for analyzing long-term trends and growth in domestic natural resource extraction and processing.
Methodology
The data is collected through surveys and administrative records from mining companies and industry associations.
Historical Context
This mining production index is widely used by economists, policymakers, and industry analysts to assess the health and trajectory of the U.S. natural resources sector.
Key Facts
- The U.S. mining sector accounts for over 2% of GDP.
- Mining production declined by 6.2% in 2020 due to the COVID-19 pandemic.
- The U.S. is the world's second-largest producer of natural gas and third-largest producer of crude oil.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' series tracks the total real output of the U.S. mining sector, including extraction and processing of minerals, metals, and fossil fuels.
Q: Why is this trend relevant for users or analysts?
A: This mining production index is a key indicator of the health and growth of the U.S. natural resources industry, which is a vital component of the domestic economy.
Q: How is this data collected or calculated?
A: The data is gathered through surveys and administrative records from mining companies and industry associations.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this mining production index to assess the performance of the U.S. natural resources sector and inform decisions around energy, trade, and industrial policies.
Q: Are there update delays or limitations?
A: The annual, non-seasonally adjusted data is published with a several-month lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (DCMINNGSP), retrieved from FRED.