Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in the District of Columbia
DCWASTEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.75
Year-over-Year Change
-41.64%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in the District of Columbia measures the real output of the waste management and remediation services industry in the District. This indicator provides insight into the productivity and economic contribution of this essential service sector.
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 tracks the quantity or volume of real GDP contributed by the waste management and remediation services industry in the District of Columbia over time. It is a valuable indicator for economists and policymakers to assess the health and productivity of this sector within the broader Washington, D.C. economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Trends in this index are closely monitored by local and federal officials to inform policy decisions related to infrastructure, environmental regulations, and economic development.
Key Facts
- The waste management and remediation services industry accounts for 0.3% of D.C.'s total GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- Proper waste disposal and environmental remediation are critical for public health and sustainability.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the real output or production volume of the waste management and remediation services industry in the District of Columbia. It provides a quantitative measure of the industry's economic contribution.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index offer important insights into the productivity and growth of a vital service sector, which has implications for infrastructure needs, environmental policies, and the overall economic health of the District of Columbia.
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 quantity index methodology to measure real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to inform decisions related to waste management regulations, environmental protection initiatives, and economic development strategies in the District of Columbia.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag period. As with any economic indicator, the data may be subject to revisions based on updated source information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in the District of Columbia (DCWASTEQGSP), retrieved from FRED.