Gross Domestic Product: Natural Resources and Mining (11, 21) in Nebraska
NENATRESMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,936.90
Year-over-Year Change
14.09%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Natural Resources and Mining (11, 21) in Nebraska measures the economic output of the natural resources and mining industries in the state. This trend is a key indicator of the health and activity of these important sectors.
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 data series represents the total inflation-adjusted value added by the natural resources and mining industries in Nebraska's economy. It is a component of the state's overall gross domestic product and provides insight into the relative importance and performance of these industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and analysts use this trend to understand Nebraska's economic structure and monitor the contribution of natural resource-based industries.
Key Facts
- Nebraska's natural resources and mining industries account for about 5% of the state's GDP.
- This sector has seen modest growth over the past decade, tracking national trends.
- Mining and extraction of fossil fuels are major components of this industry in Nebraska.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total inflation-adjusted economic output or value added by the natural resources and mining industries in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the role and performance of Nebraska's resource-based industries, which are a significant part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand Nebraska's economic structure and monitor the contribution of natural resource-based industries to the state's overall economic activity.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Natural Resources and Mining (11, 21) in Nebraska (NENATRESMINNGSP), retrieved from FRED.