Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware
Annual, Not Seasonally Adjusted
DEMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.70
Year-over-Year Change
9600.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Annual, Not Seasonally Adjusted trend measures the gross state product (GSP) for the state of Minnesota. GSP is a key indicator of economic growth and performance at the state level.
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 annual, non-seasonally adjusted data series tracks the total economic output, or GSP, of the state of Minnesota. Economists and policymakers use GSP to assess the overall health and trajectory of a state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This GSP trend is used to inform state-level economic policy and business investment decisions.
Key Facts
- Minnesota's GSP was $395 billion in 2021.
- GSP grew by 3.2% in Minnesota in 2021.
- Minnesota ranks 16th among U.S. states by GSP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross state product (GSP) for the state of Minnesota on an annual, non-seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: GSP is a key indicator of a state's overall economic performance and growth, making this trend important for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Trends in state-level GSP are used to inform economic policy decisions and business investment at the state and local level.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year delay in the release of annual GSP data by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (DEMINNGSP), retrieved from FRED.