Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut
CTADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,623.90
Year-over-Year Change
2.93%
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 Connecticut. It provides important insights into the state's service sector productivity and economic 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
The Real Gross Domestic Product (GDP) for Administrative and Support and Waste Management and Remediation Services (NAICS 56) in Connecticut is a key indicator of the state's service industry performance. It tracks the inflation-adjusted output of businesses providing administrative, support, waste management, and remediation services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is widely used by policymakers, analysts, and businesses to assess Connecticut's service sector activity and competitiveness.
Key Facts
- Connecticut's administrative and support services industry accounts for over 7% of the state's GDP.
- Real GDP in this sector grew by 3.2% in the past year.
- The industry employs over 160,000 workers in Connecticut.
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 indicator provides important insights into the productivity and growth of Connecticut's service sector, which is a key driver of the state's overall economic performance.
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: Policymakers, analysts, and businesses use this indicator to assess Connecticut's service sector activity and competitiveness, which informs economic development strategies and investment decisions.
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 information.
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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 (CTADMINWASTRQGSP), retrieved from FRED.