Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Maryland
Quarterly, Seasonally Adjusted Annual Rate
MDMINNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
327.10
Year-over-Year Change
15.22%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (SAAR) series measures the value of manufacturers' new orders for durable goods, providing insight into overall economic activity and investment.
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 indicator tracks new orders received by U.S. manufacturers for durable goods, which are products designed to last more than three years. It is a leading economic indicator used to assess the health of the manufacturing sector and broader economy.
Methodology
The U.S. Census Bureau collects this data through monthly surveys of manufacturing establishments.
Historical Context
Economists and policymakers closely monitor this metric to gauge business investment, production levels, and economic momentum.
Key Facts
- Durable goods are products designed to last more than 3 years.
- New orders indicate future production and economic activity.
- The SAAR adjusts for seasonal variations in order volumes.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate (SAAR) series measures the value of new orders received by U.S. manufacturers for durable goods.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health of the manufacturing sector and broader economic activity, as new orders for durable goods are a leading signal of production, investment, and economic momentum.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through monthly surveys of manufacturing establishments.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this metric to assess business investment, production levels, and overall economic conditions, which informs decision-making and policy actions.
Q: Are there update delays or limitations?
A: The data is released monthly by the U.S. Census Bureau, with a lag of several weeks. There may be revisions to previous months' figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (MDMINNQGSP), retrieved from FRED.