Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Delaware
Annual, Not Seasonally Adjusted
DEADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,329.70
Year-over-Year Change
58.79%
Date Range
1/1/1997 - 1/1/2024
Summary
The Annual, Not Seasonally Adjusted series measures the gross state product (GSP) of the mining, quarrying, and oil and gas extraction industry in the United States. This metric is crucial for understanding the economic contribution and performance of the extractive 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
The DEADMINWASTRGSP series tracks the total economic output or value added by the mining, quarrying, and oil and gas extraction industry across the United States on an annual basis, without adjusting for seasonal variations. It provides important insights into the size and trends of this key industrial sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive measurement of state-level economic activity.
Historical Context
Policymakers and industry analysts closely monitor this metric to assess the health and outlook of the extractive industries and their role in regional and national economies.
Key Facts
- Mining, quarrying, and oil/gas extraction accounts for 2.4% of U.S. GDP.
- This industry employs over 650,000 workers in the United States.
- The DEADMINWASTRGSP series dates back to 1997.
FAQs
Q: What does this economic trend measure?
A: The DEADMINWASTRGSP series tracks the gross state product (GSP) of the mining, quarrying, and oil and gas extraction industry in the United States on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the economic contribution and performance of the extractive sectors, which are important for policymakers and industry analysts to monitor.
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 its comprehensive measurement of state-level economic activity.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this metric to assess the health and outlook of the extractive industries and their role in regional and national economies.
Q: Are there update delays or limitations?
A: The DEADMINWASTRGSP series is published annually with a delay of several months, reflecting the comprehensive data collection and review process.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (DEADMINWASTRGSP), retrieved from FRED.