Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Massachusetts
MAADMINWASTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.69
Year-over-Year Change
-6.55%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Massachusetts measures the real economic output of this industry sector in the state. It is a key indicator for analyzing the performance and growth of this important service-based industry.
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 volume of economic activity in the administrative, support, waste management, and remediation services sector in Massachusetts. It is used by economists and policymakers to assess the health and dynamics of this component of the state's service economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This industry trend data informs analysis of the broader Massachusetts economy and can support policy decisions related to this service sector.
Key Facts
- This index has a base year of 2012.
- The administrative and support services industry accounts for over 10% of Massachusetts' GDP.
- The index reached an all-time high in Q4 2021.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output volume of the administrative, support, waste management, and remediation services sector in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This industry trend data provides insight into the performance and growth of an important service-based component of the Massachusetts economy.
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 industry-level data informs analysis of the broader Massachusetts economy and can support policy decisions related to this service sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months by the U.S. Bureau of Economic Analysis.
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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 Massachusetts (MAADMINWASTQQGSP), retrieved from FRED.