Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Rhode Island
RIMINEXOILGASRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69.90
Year-over-Year Change
326.22%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) from the mining industry, excluding oil and gas, in the state of Rhode Island. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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: Mining (Except Oil and Gas) (212) in Rhode Island series represents the inflation-adjusted value added by the mining industry, excluding oil and gas extraction, to the state's GDP. This metric is used by economists and policymakers to analyze the growth and productivity of Rhode Island's mining sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product account (NIPA) methodologies.
Historical Context
This trend is relevant for understanding the state's economic composition and can inform policy decisions related to the mining industry and overall economic development.
Key Facts
- Rhode Island's mining sector accounts for less than 1% of the state's GDP.
- This trend has shown moderate volatility over the past decade.
- The mining industry in Rhode Island employs approximately 500 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) from the mining industry, excluding oil and gas, in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and contribution of Rhode Island's mining sector to the state's overall economic activity, which is useful for economists and policymakers.
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 income and product account (NIPA) methodologies.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the state's economic composition and can inform policy decisions related to the mining industry and overall economic development.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other GDP-related statistics published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Rhode Island (RIMINEXOILGASRGSP), retrieved from FRED.