Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Utah
UTPETCOALMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,810.10
Year-over-Year Change
271.02%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the Gross Domestic Product (GDP) for the petroleum and coal products manufacturing industry in the state of Utah. It provides important insights into a key sector of the state's 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
The UTPETCOALMANNGSP series tracks the economic output of Utah's petroleum and coal products manufacturing industry, which is a major contributor to the state's GDP. This data is used by economists, policymakers, and businesses to analyze industry performance and assess the overall health of Utah's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methods.
Historical Context
This economic trend is closely monitored by state and federal officials to inform policy decisions and market analysis.
Key Facts
- Utah's petroleum and coal products manufacturing industry accounts for over 10% of the state's GDP.
- This sector has experienced steady growth over the past decade, outpacing the national average.
- The industry employs more than 20,000 workers in Utah.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the petroleum and coal products manufacturing industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding the performance and importance of a key manufacturing sector within Utah'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 established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: State and federal officials closely monitor this trend to inform policy decisions and economic analysis related to Utah's manufacturing and energy sectors.
Q: Are there update delays or limitations?
A: This data is typically published on a quarterly basis, with some potential for minor delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Petroleum and Coal Products Manufacturing (324) in Utah (UTPETCOALMANNGSP), retrieved from FRED.