Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Indiana
INNATRESMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,295.20
Year-over-Year Change
13.55%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the natural resources and mining sector in Indiana. It is a key indicator of the health and productivity of this important industry within 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
The Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Indiana series tracks the inflation-adjusted economic output of the natural resources and mining industry in the state. This data is used by economists and policymakers to analyze the performance and contribution of this sector to Indiana's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Historical Context
Monitoring trends in the natural resources and mining sector provides insights into Indiana's industrial composition and can inform economic development strategies.
Key Facts
- Indiana's natural resources and mining sector accounts for over 3% of the state's GDP.
- This industry employed more than 25,000 Hoosiers as of the latest data.
- Real GDP in this sector has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the natural resources and mining sector in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: Tracking the performance of Indiana's natural resources and mining industry provides valuable insights into the state's economic composition and growth drivers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform economic development strategies and investment decisions related to Indiana's natural resources and mining sectors.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag from the end of the reference period.
Related Trends
Total Unemployed Plus Discouraged Workers, as a Percent of the Civilian Labor Force Plus Discouraged Workers for Indiana
U4UNEM4IN
State Government Tax Collections, Total Income Taxes in Indiana
INTLINCTAX
Average Weekly Earnings of Production Employees: Financial Activities in Indiana
SMU18000005500000030A
Continued Claims (Insured Unemployment) in Indiana
INCCLAIMS
Total Unemployed, as a Percent of the Civilian Labor Force for Indiana
U3UNEM3IN
Average Hourly Earnings of All Employees: Goods Producing in Indiana
SMU18000000600000003
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Indiana (INNATRESMINRGSP), retrieved from FRED.