Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maine
MEADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,155.60
Year-over-Year Change
27.51%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maine' measures the economic output of this industry sector in Maine. It is a key indicator for understanding the state's service-based 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
This series tracks the real, inflation-adjusted GDP contribution of the administrative, support, waste management, and remediation services industry in Maine. It provides insights into the performance and growth of this important service sector within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting practices.
Historical Context
This economic trend is widely monitored by policymakers, analysts, and businesses to assess Maine's economic conditions and competitiveness.
Key Facts
- Maine's administrative and waste services GDP was $4.6 billion in 2021.
- This sector accounts for over 7% of Maine's total economic output.
- The industry has grown by 12% in real terms over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) contributed by the administrative, support, waste management, and remediation services industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This industry sector trend provides important insights into the performance and growth of a key component of Maine's service-based economy, which is crucial for understanding the state's overall economic conditions and competitiveness.
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 practices.
Q: How is this trend used in economic policy?
A: This trend is widely monitored by policymakers, analysts, and businesses to assess Maine's economic conditions and competitiveness, and to 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 delays in publication.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maine (MEADMINWASTRGSP), retrieved from FRED.