Real Sectoral Output for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
IPUBN21239T011000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.50
Year-over-Year Change
-1225.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The Real Sectoral Output for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States measures the volume of output for this key industrial sector. This metric is vital for economists and policymakers to assess the health and productivity of the U.S. mining industry.
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 economic indicator tracks the real output, adjusted for inflation, of companies engaged in mining and quarrying operations for minerals, stones, and aggregates other than metallic ores. It provides insights into the operational capacity and efficiency of this important component of the U.S. industrial base.
Methodology
The data is collected through surveys of mining establishments and calculated using the North American Industry Classification System (NAICS).
Historical Context
Trends in this metric are closely monitored by economists, investors, and policymakers to gauge the performance and outlook for the broader mining and extraction sectors.
Key Facts
- This sector accounts for over $50 billion in annual output.
- Mining and quarrying provide crucial raw materials for construction, manufacturing, and other industries.
- Output has fluctuated due to changes in domestic and global demand for nonmetallic mineral products.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the real, inflation-adjusted volume of output from companies engaged in mining and quarrying operations for nonmetallic minerals, stones, and aggregates in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in this metric provide valuable insights into the operational capacity, productivity, and outlook for this key industrial sector, which is a crucial supplier of raw materials to many other industries.
Q: How is this data collected or calculated?
A: The data is collected through surveys of mining establishments and calculated using the North American Industry Classification System (NAICS).
Q: How is this trend used in economic policy?
A: Economists, investors, and policymakers closely monitor this indicator to assess the health and performance of the broader mining and extraction industries, which have important implications for the overall U.S. industrial base and economy.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the latest data, as the information is compiled from surveys of mining establishments.
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Citation
U.S. Federal Reserve, Real Sectoral Output for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States (IPUBN21239T011000000), retrieved from FRED.