Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Nebraska
NENATRESMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.94
Year-over-Year Change
17.14%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Nebraska measures the real output of the natural resources and mining industries in the state. This trend is important for economists and policymakers to understand the health and productivity of a key sector of the Nebraska 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
This index tracks the real, inflation-adjusted output of natural resources and mining businesses in Nebraska over time. It is a valuable indicator of the economic activity and productivity of this crucial industry in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index method.
Historical Context
This trend provides insight into the performance of a key driver of Nebraska's economy and can inform policy decisions and market analysis.
Key Facts
- Nebraska is a major producer of agricultural commodities and fossil fuels.
- The mining and natural resources sector accounts for over 5% of Nebraska's GDP.
- This index uses 2012 as the base year for calculating real output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the natural resources and mining industries in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and productivity of a crucial sector of Nebraska's economy, which can inform economic policy and market analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index method.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers and economists to assess the health and growth of Nebraska's natural resources and mining industries, which are key drivers of the state's economy.
Q: Are there update delays or limitations?
A: The data is subject to the same release schedule and potential revisions as other economic indicators published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Nebraska (NENATRESMINQGSP), retrieved from FRED.