Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in the Great Lakes BEA Region
GLAKMINEXOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.90
Year-over-Year Change
-21.19%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in the Great Lakes BEA Region measures the real output of the mining industry, excluding oil and gas, in the Great Lakes region. This metric is important for economists and policymakers to assess regional economic performance and productivity trends.
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 provides a measure of the real (inflation-adjusted) output of the mining industry, excluding oil and gas, in the Great Lakes region as defined by the Bureau of Economic Analysis (BEA). It allows for analysis of productivity, structural changes, and growth dynamics in this key economic sector.
Methodology
The data is calculated using a chain-type quantity index formula to measure real changes in the mining sector's output.
Historical Context
Tracking this metric helps inform policy decisions and business strategies related to the regional mining industry.
Key Facts
- The Great Lakes region accounts for a significant portion of U.S. mining output.
- This index uses 2012 as the base year for real GDP calculations.
- Mining, excluding oil and gas, is an important component of the regional economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) output of the mining industry, excluding oil and gas, in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing regional economic performance, productivity, and growth dynamics in the mining sector, which is a key industry in the Great Lakes region.
Q: How is this data collected or calculated?
A: The data is calculated using a chain-type quantity index formula to measure real changes in the mining sector's output.
Q: How is this trend used in economic policy?
A: Tracking this metric helps inform policy decisions and business strategies related to the regional mining industry.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological updates of the U.S. Federal Reserve's FRED database.
Related Trends
Chain-Type Quantity Index for Real GDP: Electrical Equipment, Appliance, and Component Manufacturing (335) in the Great Lakes BEA Region
GLAKELCEQAPMANQGSP
Gross Domestic Product: Health Care and Social Assistance (62) in the Great Lakes BEA Region
GLAKHLTHSOCASSNGSP
Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in the Great Lakes BEA Region
GLAKFURNMANRGSP
Gross Domestic Product: Social Assistance (624) in the Great Lakes BEA Region
GLAKSOCASSNGSP
Chain-Type Quantity Index for Real GDP: Funds, Trusts, and Other Financial Vehicles (525) in the Great Lakes BEA Region
GLAKFNDTRSTQGSP
Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in the Great Lakes BEA Region
GLAKNDURMANNGSP
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in the Great Lakes BEA Region (GLAKMINEXOILGASQGSP), retrieved from FRED.