Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia
DCMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/1997 - 1/1/2022
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia measures the inflation-adjusted output of the mining and extraction industries in the nation's capital. This metric is important for economists and policymakers to gauge the health and productivity of a key sector of the local 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
This index tracks changes in the real, or inflation-adjusted, volume of goods and services produced by the mining, quarrying, and oil and gas extraction industries in the District of Columbia. It is a valuable indicator of the performance and competitiveness of this segment of the local economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula applied to industry-level GDP figures.
Historical Context
This metric is closely monitored by economic analysts and policymakers to understand trends in the District's energy and resource extraction activities.
Key Facts
- The index uses 2012 as the base year.
- Mining and extraction account for a small but important part of DC's economy.
- The index has shown volatility in recent years due to global energy market trends.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of the mining, quarrying, and oil and gas extraction industries in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and productivity of a key sector of the local DC economy, which is closely watched by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula applied to industry-level GDP figures.
Q: How is this trend used in economic policy?
A: This index is used by analysts and policymakers to understand trends in the District's energy and resource extraction activities, which can inform decisions around economic development, taxation, and regulation.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in the District of Columbia (DCMINQGSP), retrieved from FRED.