Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware
DEMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.88
Year-over-Year Change
7578.64%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Delaware measures the volume of economic output from this industry in the state. This metric is important for economists and policymakers to assess the health and trends of Delaware's energy extraction sector.
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 the real output volume, adjusted for price changes, of the mining, quarrying, and oil and gas extraction industry in Delaware. It provides a gauge of the productivity and growth dynamics within this key component of the state's economy.
Methodology
The data is calculated based on Bureau of Economic Analysis (BEA) national accounts and regional economic data.
Historical Context
Analysts and policymakers use this metric to understand the role of energy extraction in Delaware's economic performance and development.
Key Facts
- Delaware's mining and energy extraction sector accounts for ~2% of state GDP.
- This index has a base year of 2012 = 100.
- The data is released quarterly by the BEA.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of economic output from the mining, quarrying, and oil and gas extraction industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and growth dynamics of a key sector of Delaware's economy, which can inform economic policy and investment decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Economic Analysis based on national accounts and regional economic data.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this index to understand the role of energy extraction in Delaware's overall economic performance and development.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a typical 1-2 month delay from the end of the reference period.
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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 Delaware (DEMINQGSP), retrieved from FRED.