Gross Domestic Product: Support Activities for Mining (213) in Utah
UTSAMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
925.30
Year-over-Year Change
25.26%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Support Activities for Mining (213) in Utah tracks the economic output of the mining support services industry in the state. This metric is important for understanding the state's economic composition and growth.
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 series measures the real (inflation-adjusted) gross domestic product (GDP) for the support activities for mining industry in Utah. It provides insight into the scale and performance of this key economic sector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
Policymakers and analysts use this metric to assess the health and trajectory of Utah's mining support services industry and its contribution to the broader state economy.
Key Facts
- Mining support services account for over 2% of Utah's GDP.
- This industry has grown by 25% over the past decade in Utah.
- The state ranks among the top 10 nationally for mining support services output.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real gross domestic product (GDP) for the support activities for mining industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the scale and performance of a key economic sector in Utah, which is useful for policymakers, investors, and economists analyzing the state's economic composition and growth.
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 frameworks.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and trajectory of Utah's mining support services industry and its contribution to the broader state economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent figures.
Related Trends
Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Utah
MEDSQUFEEYYUT
Coefficient for Industrial Carbon Dioxide Emissions, LPG (Fuel Use) for Utah
EMISSCO2CHLICBUTA
Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Utah
UTPCEPCFININS
Coefficient for Industrial Carbon Dioxide Emissions, Kerosene for Utah
EMISSCO2CKSICBUTA
State Government Tax Collections, Motor Vehicle Licenses in Utah
UTMOTOLICTAX
Coefficient for Electric Power Carbon Dioxide Emissions, Distillate Fuel for Utah
EMISSCO2CDKEIBUTA
Citation
U.S. Federal Reserve, Gross Domestic Product: Support Activities for Mining (213) in Utah (UTSAMINNGSP), retrieved from FRED.