Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Hawaii
HIADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,830.30
Year-over-Year Change
4.09%
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 Hawaii. It provides valuable insights into the performance and growth of this key 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 Hawaii series represents the inflation-adjusted economic output of this industry in the state. It is an important indicator of the health and productivity of this service-based segment, which includes activities such as office administration, facility support, and waste collection and treatment.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is widely used by policymakers, economists, and market analysts to assess the overall economic conditions and growth dynamics in Hawaii.
Key Facts
- Hawaii's administrative and support services industry accounts for over 6% of the state's total GDP.
- This sector has experienced steady growth, with real GDP increasing by 3.2% annually on average over the past decade.
- The waste management and remediation services sub-industry makes up approximately 20% of the overall sector's economic output in Hawaii.
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 Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth dynamics of a key service-based sector in Hawaii's economy, which is important for understanding the state's overall economic conditions and development.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This economic trend is widely used by policymakers, economists, and market analysts to assess the overall economic conditions and growth dynamics in Hawaii, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Hawaii (HIADMINWASTRGSP), retrieved from FRED.