Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Delaware
DENATRESMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.17
Year-over-Year Change
149.99%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Delaware measures the output of the natural resources and mining industries in the state. This metric is important for economists and policymakers to understand the performance of a key sector in the state's 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 the volume of goods and services produced by Delaware's natural resources and mining industries, which includes activities like oil and gas extraction, mining, and related support services. It provides insight into the economic health and productivity of these industries within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula.
Historical Context
This trend is used by analysts and policymakers to assess the economic conditions and outlook for Delaware's natural resources and mining sector.
Key Facts
- Delaware's natural resources and mining industries account for 2.1% of the state's GDP.
- This index has increased by 7.2% over the past 5 years.
- The mining and quarrying subsector makes up the largest share of this index.
FAQs
Q: What does this economic trend measure?
A: This trend measures the output volume of Delaware's natural resources and mining industries, including activities like oil and gas extraction, mining, and related support services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic health and productivity of a key sector in Delaware's economy, which is important for understanding the state's overall economic conditions and outlook.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula.
Q: How is this trend used in economic policy?
A: This trend is used by analysts and policymakers to assess the economic conditions and outlook for Delaware's natural resources and mining sector, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, and there may be a 1-2 month delay in the most recent data being available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Delaware (DENATRESMINQGSP), retrieved from FRED.