Mineral Commodity Summaries, 2008

Organization: 

Publication Year: 

2008

Abstract: 

Minerals are fundamental to the U.S. economy, contributing to the real gross domestic product (GDP) at several levels—mining, processing, and manufacturing finished products. The estimated growth rate for the real GDP of the United States was 2.1% and the nominal GDP was about $13.8 trillion in 2007. The prime interest rate decreased to 7.25% in December from 8.25% at the beginning of 2007, reflecting actions taken by the Federal Reserve Board to counter financial difficulties surrounding sub-prime mortgages. Delinquencies on sub-prime mortgages increased throughout the year, affecting not only the delinquent homeowners but also financial instruments invested in mortgage-backed securities.

Document Type: 

  • Report

Tags: 

  • critical issues, database publication, mineral resources, metal, critical minerals, industrial minerals, united states