Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in North Carolina
Quarterly, Seasonally Adjusted Annual Rate
NCMINRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,053.60
Year-over-Year Change
3.17%
Date Range
1/1/2005 - 1/1/2025
Summary
The 'Quarterly, Seasonally Adjusted Annual Rate' metric measures the quarterly real gross state product (GSP) growth rate in the United States, a key indicator of regional economic performance.
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 economic trend provides a seasonally adjusted, annualized measure of the quarterly change in real gross state product, which represents the total economic output of a U.S. state or territory. It is used by policymakers and analysts to assess regional economic conditions and monitor state-level growth patterns.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources including business surveys and government records.
Historical Context
Quarterly GSP growth rates are closely watched by federal, state, and local governments to inform policy decisions and budgeting.
Key Facts
- Measures the annualized rate of change in real state-level GDP.
- Provides a more timely gauge of regional economic performance than annual GSP data.
- Growth rates can vary significantly across U.S. states and territories.
FAQs
Q: What does this economic trend measure?
A: This metric measures the quarterly growth rate of real gross state product (GSP), which represents the total economic output of a U.S. state or territory, on a seasonally adjusted annualized basis.
Q: Why is this trend relevant for users or analysts?
A: Quarterly GSP growth rates are a key indicator of regional economic performance and are closely monitored by policymakers, economists, and businesses to assess state-level economic conditions and inform decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources including business surveys and government records.
Q: How is this trend used in economic policy?
A: Quarterly GSP growth rates are used by federal, state, and local governments to inform policy decisions, budgeting, and economic development strategies at the regional level.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with some lag from the end of the reference period, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (NCMINRQGSP), retrieved from FRED.