Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maryland
MDADMINWASTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,935.50
Year-over-Year Change
80.95%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in the state of Maryland. It provides important insights into the performance and economic contribution of this 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
The MDADMINWASTNGSP series tracks the GDP generated by businesses in Maryland that provide administrative and support services, as well as waste management and remediation services. This data is useful for analyzing the health and growth of this industry within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Historical Context
Policymakers and economists use this trend to understand the role of the administrative and waste management sector in Maryland's overall economic performance.
Key Facts
- Maryland's administrative and waste management GDP was $13.5 billion in 2021.
- This sector accounts for approximately 3.5% of Maryland's total GDP.
- The industry has seen steady growth of around 2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by businesses in Maryland that provide administrative and support services, as well as waste management and remediation services.
Q: Why is this trend relevant for users or analysts?
A: This data is useful for understanding the performance and economic contribution of the administrative and waste management sector within Maryland's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the role of the administrative and waste management sector in Maryland's economic performance and development.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a lag of several months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maryland (MDADMINWASTNGSP), retrieved from FRED.