Real Gross Domestic Product: Support Activities for Mining (213) in Maine
MESAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
-66.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of support activities for mining in the state of Maine. It provides valuable insights into the performance and importance of the mining 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: Support Activities for Mining (213) in Maine is a measure of the inflation-adjusted economic output from support activities for the mining industry in the state. It serves as an indicator of the vitality and growth of this critical sector, which includes activities such as exploration, well operations, and other support services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by policymakers, industry analysts, and economic researchers to assess the health and contribution of the mining sector in Maine's overall economic performance.
Key Facts
- Mining support activities account for a significant portion of Maine's GDP.
- This trend has shown steady growth over the past decade.
- The mining industry is a critical employer and contributor to Maine's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of support activities for the mining industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and importance of the mining industry within Maine's economy, which is crucial information for policymakers, industry analysts, and economic researchers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to assess the health and contribution of the mining sector in Maine's overall economic performance, which informs policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is updated periodically by the U.S. Bureau of Economic Analysis, and there may be some delays in the release of the latest information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in Maine (MESAMINRGSP), retrieved from FRED.