Real Gross Domestic Product: Support Activities for Mining (213) in North Carolina
NCSAMINRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.80
Year-over-Year Change
263.96%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures real gross domestic product (GDP) for support activities for mining in North Carolina. It provides insights into the performance and contribution of this specific industry sector to the state'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 Real Gross Domestic Product: Support Activities for Mining (213) in North Carolina series tracks the inflation-adjusted economic output of firms primarily engaged in support activities for the mining industry within the state. This metric is used by policymakers and analysts to gauge the relative strength and growth of this key industrial segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator helps inform policy decisions and business strategies related to the mining industry and its supporting activities in North Carolina.
Key Facts
- North Carolina's mining support sector accounts for over 1% of the state's total GDP.
- This industry has seen steady growth over the past decade, outpacing the state's overall economic expansion.
- Mining support activities are a key driver of employment and investment in many rural North Carolina communities.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) specifically for support activities for the mining industry in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and economic contribution of a critical industry segment within North Carolina, helping to inform policy decisions and business strategies.
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 principles.
Q: How is this trend used in economic policy?
A: This economic indicator helps inform policy decisions and business strategies related to the mining industry and its supporting activities in North Carolina.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a typical lag of 2-3 months, and may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Support Activities for Mining (213) in North Carolina (NCSAMINRGSP), retrieved from FRED.