Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in the Great Lakes BEA Region
GLAKADMINWASTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.53
Year-over-Year Change
-1.95%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP measures the inflation-adjusted output of the Administrative and Support and Waste Management and Remediation Services industry in the Great Lakes Bureau of Economic Analysis (BEA) region. This metric is important for evaluating regional economic performance and trends.
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 changes in the real, inflation-adjusted quantity of goods and services produced by the Administrative and Support and Waste Management and Remediation Services industry in the Great Lakes BEA region. It is a key indicator of productivity and economic activity in this important service sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric is widely used by economists, policymakers, and industry analysts to understand regional economic conditions and trends.
Key Facts
- The Great Lakes region accounts for over 20% of U.S. GDP.
- The Administrative and Support Services industry employs over 6 million workers nationwide.
- This index is updated quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted output of the Administrative and Support and Waste Management and Remediation Services industry in the Great Lakes BEA region.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of productivity and economic activity in a key service sector, providing insights into regional economic performance.
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 formula.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and industry analysts to understand regional economic conditions and trends, informing economic policies and investment decisions.
Q: Are there update delays or limitations?
A: This index is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in the Great Lakes BEA Region (GLAKADMINWASTQQGSP), retrieved from FRED.