Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Montana
MTMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,076.20
Year-over-Year Change
-20.09%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Montana' series measures the real economic output of the mining industry, excluding oil and gas, in the state of Montana. This metric is crucial for understanding the health and performance of Montana'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
This series represents the value added by the mining industry, excluding oil and gas, to Montana's overall gross domestic product (GDP). It is an important indicator of the state's economic diversification and the relative strength of its mining sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting procedures.
Historical Context
Policymakers and analysts use this metric to assess the contribution of Montana's mining industry to the state's economic growth and development.
Key Facts
- Montana's mining industry, excluding oil and gas, contributed $1.9 billion to the state's GDP in 2021.
- Mining (except oil and gas) accounted for 3.2% of Montana's total GDP in 2021.
- The mining industry's real GDP in Montana has grown by 15% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) economic output of the mining industry, excluding oil and gas, in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the performance and contribution of Montana's mining sector to the state's overall economic growth and diversification.
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 procedures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the role of Montana's mining industry in the state's economic development and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor revisions over time.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Montana (MTMINEXOILGASRGSP), retrieved from FRED.