Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut
CTADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,647.40
Year-over-Year Change
21.48%
Date Range
1/1/1997 - 1/1/2024
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 Connecticut. It provides insight into the performance and contribution of this sector to the state's overall economic activity.
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 Connecticut series tracks the inflation-adjusted output of this industry, which includes activities such as office administration, facilities support, and waste collection and treatment. This metric is valuable for analyzing the economic health and productivity of this important service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for policymakers, economists, and businesses to assess the growth and competitiveness of Connecticut's administrative and waste management services industry.
Key Facts
- Connecticut's administrative and waste management services industry accounts for over 4% of the state's total GDP.
- This sector has experienced steady growth, with real GDP increasing by 12% over the past decade.
- The industry employs more than 120,000 workers in Connecticut, making it a significant contributor to the state's economy.
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 Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the performance and contribution of Connecticut's administrative and waste management services sector, which is an important part of the state's overall economic activity.
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 principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers, economists, and businesses to assess the growth and competitiveness of Connecticut's administrative and waste management services industry, which can inform economic development strategies and business decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut (CTADMINWASTRGSP), retrieved from FRED.