Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Nebraska
NEMINEXOILGASQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.12
Year-over-Year Change
-40.56%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Mining (Except Oil and Gas) (212) in Nebraska measures the inflation-adjusted output of the mining industry, excluding oil and gas, in the state of Nebraska. This metric is important for economists and policymakers to assess the health and productivity of Nebraska's extractive industries.
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 index tracks the real output of Nebraska's mining sector, which includes activities such as metal ore, coal, and mineral mining. It is a useful indicator of the state's industrial activity and economic diversification beyond just oil and gas production.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information.
Historical Context
This metric can inform economic and energy policy decisions at the state level.
Key Facts
- The index is based on 2012 as the base year.
- Mining (except oil and gas) accounts for around 1% of Nebraska's GDP.
- The mining industry employs over 3,000 workers in Nebraska.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the mining industry, excluding oil and gas, in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the health and productivity of Nebraska's extractive industries beyond just oil and gas, which can inform economic and energy policy decisions at the state level.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information.
Q: How is this trend used in economic policy?
A: This trend can inform economic and energy policy decisions at the state level, as it provides insights into the performance of Nebraska's mining sector.
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: Mining (Except Oil and Gas) (212) in Nebraska (NEMINEXOILGASQGSP), retrieved from FRED.