Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Arizona
AZADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,490.00
Year-over-Year Change
5.72%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in the state of Arizona. It provides valuable insights into a key service 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 Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Arizona series tracks the inflation-adjusted economic output of this industry, which includes activities such as office administration, hiring and placing of personnel, security services, and waste collection and treatment. This data is used by economists and policymakers to analyze the performance and trends within this crucial service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This economic trend is relevant for understanding the health and competitiveness of Arizona's service industry and its contribution to the state's overall economic growth.
Key Facts
- The administrative and support and waste management and remediation services industry accounts for over 8% of Arizona's total GDP.
- This sector has experienced steady growth, with real GDP increasing by 15% over the past decade.
- Arizona ranks among the top 15 states in the U.S. for the size of its administrative and waste management services industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and trends within a crucial service sector of Arizona's economy, which is important for understanding the state's overall economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and competitiveness of Arizona's service industry and its contribution to the state's overall economic growth.
Q: Are there update delays or limitations?
A: The data is published on a regular basis with minimal delays, providing timely insights into this important economic sector.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Arizona (AZADMINWASTRQGSP), retrieved from FRED.