Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Indiana
INOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99.22
Year-over-Year Change
57.98%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Indiana measures the real output of the oil and gas extraction industry in Indiana, adjusting for price changes over time.
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 is a key indicator of the economic performance and productivity of Indiana's oil and gas extraction sector, which is an important component of the state's economy. Economists and policymakers use this data to analyze industry trends and inform decisions.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using quantity data and price indices.
Historical Context
This metric provides insights into the health of Indiana's energy production and can inform policies related to energy, investment, and economic development.
Key Facts
- Indiana is a top-10 state for oil and gas production.
- The oil and gas industry accounts for over 3% of Indiana's GDP.
- This index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output of the oil and gas extraction industry in Indiana, adjusting for price changes over time.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and productivity of Indiana's energy production sector, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using quantity data and price indices.
Q: How is this trend used in economic policy?
A: This metric can inform policies related to energy, investment, and economic development in Indiana.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the Federal Reserve, with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Indiana (INOILGASQGSP), retrieved from FRED.