Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska
NEMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.42
Year-over-Year Change
-23.91%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska measures the inflation-adjusted output of the mining and extraction 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
This index provides a measure of real economic activity in the mining and extraction sector of Nebraska's economy. It is used by economists and policymakers to assess the performance and contribution of this industry to the state's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely watched by energy markets and state economic development agencies.
Key Facts
- Nebraska is a major energy-producing state.
- Mining and extraction account for over 10% of the state's GDP.
- This index has declined in recent years due to lower oil and gas prices.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted output of the mining, quarrying, and oil and gas extraction industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and contribution of Nebraska's energy sector to the state's overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric is closely watched by energy markets and state economic development agencies to assess the health and outlook of Nebraska's mining and extraction industry.
Q: Are there update delays or limitations?
A: The data is updated quarterly, with some potential for revisions to historical figures.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Mining, Quarrying, and Oil and Gas Extraction (21) in Nebraska (NEMINQGSP), retrieved from FRED.