Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Indiana
INADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,800.60
Year-over-Year Change
-0.28%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) for the administrative and support and waste management and remediation services sector in the state of Indiana. It provides insights into the productivity and growth of this crucial service industry within 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 Indiana metric tracks the inflation-adjusted economic output of this service sector, which includes a wide range of business support activities. It is an important indicator of the health and competitiveness of this segment of Indiana's economy.
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 closely watched by policymakers, economists, and business analysts to assess the performance and outlook of Indiana's service-based industries.
Key Facts
- Indiana's administrative and support services sector accounts for over 5% of the state's GDP.
- This industry has seen steady growth of around 2% annually over the past decade.
- The waste management and remediation subsector makes up roughly 20% of this broader service industry in Indiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the administrative and support and waste management and remediation services sector in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the productivity and growth of a crucial service industry within Indiana's economy, which is closely watched by policymakers, economists, and business analysts.
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 used by policymakers, economists, and business analysts to assess the performance and outlook of Indiana's service-based industries, which are important drivers of the state's overall economic growth and competitiveness.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Bureau of Economic Analysis, but may be subject to revisions and delays typical of macroeconomic statistics.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Indiana (INADMINWASTRQGSP), retrieved from FRED.