Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Montana
MTNATRESMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.53
Year-over-Year Change
1.13%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Montana measures the inflation-adjusted output of the natural resources and mining sector in the state. This indicator provides insight into the productivity and growth of a key industry in 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
The Chain-Type Quantity Index tracks changes in the real, inflation-adjusted value of goods and services produced in the natural resources and mining sectors, including oil, gas, and mineral extraction. This metric allows economists to analyze the contribution of these industries to Montana's overall economic performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to adjust for price changes over time.
Historical Context
Policymakers and investors use this index to gauge the health and outlook of Montana's natural resource-based economy.
Key Facts
- Montana is a major producer of oil, gas, and minerals.
- The natural resources and mining sector accounts for a significant portion of the state's GDP.
- This index helps track the real output and productivity of this key industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the natural resources and mining sector in the state of Montana, including oil, gas, and mineral extraction.
Q: Why is this trend relevant for users or analysts?
A: This index provides insight into the productivity and growth of a key industry in Montana's economy, which is important for policymakers and investors analyzing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to adjust for price changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and investors use this index to gauge the health and outlook of Montana's natural resource-based economy, which is crucial for economic planning and investment decisions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Montana (MTNATRESMINQGSP), retrieved from FRED.