Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Indiana
INMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.02
Year-over-Year Change
-21.82%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Indiana measures the volume of economic output from this sector in the state.
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 changes in the real, inflation-adjusted GDP produced by the mining, quarrying, and oil and gas extraction industries in Indiana. It is used by economists and policymakers to monitor trends in this important component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and production statistics.
Historical Context
This index provides insight into a key part of Indiana's industrial landscape and its overall economic performance.
Key Facts
- Indiana's mining and energy sector accounts for over 5% of its GDP.
- This index has shown moderate growth in recent years.
- The index reached a peak in 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This index measures the volume of real GDP produced by the mining, quarrying, and oil and gas extraction industries in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into a critical sector of Indiana's economy and can help inform policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys and production statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to monitor the performance of Indiana's mining and energy industries and their impact on the state's overall economic conditions.
Q: Are there update delays or limitations?
A: The index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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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 Indiana (INMINQGSP), retrieved from FRED.