Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Wisconsin
WINATRESMINQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.30
Year-over-Year Change
46.05%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Wisconsin measures the volume of economic output in the natural resources and mining sectors 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
This index provides a way to track changes in the real (inflation-adjusted) value added by the natural resources and mining industries in Wisconsin over time. Economists use this data to assess the economic performance and productivity of these key sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula applied to real GDP by industry.
Historical Context
Policymakers and industry analysts monitor this index to understand broader trends in Wisconsin's natural resource-based economy.
Key Facts
- The index is based on 2012 as the reference year.
- Mining and natural resources account for around 3% of Wisconsin's GDP.
- The index has shown moderate growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real volume of economic output in the natural resources and mining sectors of Wisconsin's economy.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the performance and productivity of key industries in Wisconsin's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type index formula applied to real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to monitor broader trends in Wisconsin's natural resource-based economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Natural Resources and Mining (11, 21) in Wisconsin (WINATRESMINQGSP), retrieved from FRED.