Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Maryland
MDADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.50
Year-over-Year Change
31.18%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the administrative and support and waste management and remediation services industry in Maryland. It provides insights into the productivity and economic activity of this critical service 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 chain-type quantity index for real GDP tracks changes in the volume of economic output, adjusting for inflation. This measure is used to analyze growth, productivity, and structural shifts within specific industries and state economies.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts monitor this trend to gauge the health and competitiveness of Maryland's service economy.
Key Facts
- Maryland's administrative and waste services contributed $19.2 billion to state GDP in 2021.
- This industry grew by 2.1% in real terms from 2020 to 2021.
- The sector accounts for over 5% of Maryland's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the administrative and support and waste management and remediation services industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and economic activity of a critical service sector, which is important for understanding Maryland's overall economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to gauge the health and competitiveness of Maryland's service economy, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
Related Trends
Gross Domestic Product: Ambulatory Health Care Services (621) in Maryland
MDAMBHCNGSP
All Employees: Private Service Providing in Maryland
SMS24000000800000001
All Employees: Financial Activities: Credit Intermediation and Related Activities including Monetary Authorities - Central Bank in Maryland
SMU24000005552200001A
Gross Domestic Product: Forestry, Fishing, and Related Activities (113-115) in Maryland
MDFRSTFISHNGSP
All Employees: Financial Activities: Insurance Carriers and Related Activities in Maryland
SMU24000005552400001SA
Value of Exports to Portugal from Maryland
MDPRTA052SCEN
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Maryland (MDADMINWASTQGSP), retrieved from FRED.