Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Montana
MTNATRESMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,558.40
Year-over-Year Change
1.13%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) contribution of the natural resources and mining sector in Montana. It provides insight into the economic importance of this industry in the state.
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: Natural Resources and Mining (11, 21) in Montana series tracks the value-added output of the natural resources and mining industries, adjusted for inflation. This metric is used to analyze the production and economic impact of the extractive sectors in the Montana economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Policymakers and market analysts monitor this trend to understand the role of natural resources in Montana's economic growth and development.
Key Facts
- Montana is a major producer of coal, oil, and natural gas.
- The natural resources and mining sector accounts for over 10% of Montana's GDP.
- This trend has fluctuated with commodity prices and industry activity in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) contribution of the natural resources and mining sector in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic importance of the extractive industries in Montana, which is useful for policymakers, investors, and economists analyzing the state's economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts monitor this trend to understand the role of natural resources in Montana's economic growth and development, which can inform decisions around taxation, regulation, and economic diversification.
Q: Are there update delays or limitations?
A: The data is subject to revisions and may have some delays in reporting, as is common with many economic indicators.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Natural Resources and Mining (11, 21) in Montana (MTNATRESMINRGSP), retrieved from FRED.