Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Montana
Annual, Not Seasonally Adjusted
MTMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,639.10
Year-over-Year Change
-22.22%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the monthly production of mining and logging industries in the United States. It is a key indicator of economic activity and industrial output.
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 Mining and Logging Production Index tracks the volume of production from the mining and logging sectors of the U.S. economy. It is a widely-used metric for monitoring trends in natural resource extraction and processing industries.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on surveys of mining and logging companies.
Historical Context
Policymakers and analysts use this index to assess the health of the industrial sector and natural resource markets.
Key Facts
- Mining and logging account for about 5% of U.S. industrial production.
- The index uses 2017 as its base year with a value of 100.
- Natural resource extraction is a major driver of economic growth in many regions.
FAQs
Q: What does this economic trend measure?
A: The Mining and Logging Production Index tracks the monthly volume of output from the mining and logging industries in the United States.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the health and performance of the natural resource extraction sector, which is a key part of the broader U.S. industrial economy.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve collects this data through surveys of companies in the mining and logging industries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the state of industrial production and natural resource markets, which informs decisions on economic, energy, and environmental policies.
Q: Are there update delays or limitations?
A: The Mining and Logging Production Index is published monthly with a typical 1-2 month delay. The data may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Mining and Logging Production (MTMINRGSP), retrieved from FRED.