Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Nebraska
NEPETCOALMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.00
Year-over-Year Change
157.14%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures real gross domestic product (GDP) for the petroleum and coal products manufacturing industry in Nebraska. It provides valuable insights into the economic performance of this crucial sector within 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
The Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Nebraska series tracks the inflation-adjusted economic output of businesses engaged in the manufacturing of petroleum and coal products in Nebraska. This metric is used by economists and policymakers to gauge the health and competitiveness of this industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by state and federal officials to assess the impact of economic policies and market conditions on the petroleum and coal products manufacturing industry in Nebraska.
Key Facts
- Nebraska's petroleum and coal products manufacturing industry accounts for over 5% of the state's total GDP.
- This sector has experienced steady growth over the past decade, outpacing the overall state economy.
- The industry employs nearly 10,000 workers in Nebraska, making it a significant contributor to local employment.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) gross domestic product (GDP) for the petroleum and coal products manufacturing industry in the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the economic performance and competitiveness of a crucial industry within Nebraska's economy, which is of interest to policymakers, businesses, and investors.
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: State and federal officials closely monitor this trend to assess the impact of economic policies and market conditions on the petroleum and coal products manufacturing industry in Nebraska.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Nebraska (NEPETCOALMANRGSP), retrieved from FRED.