Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Minnesota
MNADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,577.40
Year-over-Year Change
22.18%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) for the administrative and support and waste management and remediation services industry in Minnesota. It provides insights into the economic activity and productivity of this sector within the state.
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 GDP for the administrative and support and waste management and remediation services industry in Minnesota is a key economic indicator that tracks the inflation-adjusted value added by this sector to the state's overall economic output. It is used by economists and policymakers to analyze the performance and competitiveness of this industry within the broader Minnesota economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is relevant for understanding the health and competitiveness of Minnesota's business services sector and its contribution to the state's economic growth.
Key Facts
- The administrative and support and waste management and remediation services industry accounts for approximately 4% of Minnesota's total GDP.
- This sector has experienced steady growth in real GDP over the past decade, outpacing the overall state economy.
- Minnesota ranks among the top 10 states in the nation for the concentration of jobs in the administrative and waste management services industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the administrative and support and waste management and remediation services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and competitiveness of a key business services sector within the Minnesota economy, which is important for understanding the state's overall economic growth 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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and competitiveness of Minnesota's business services sector and its contribution to the state's economic growth, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
Related Trends
Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in Minnesota
MEDLISPRIPERSQUFEEMMMN
Transportation and Warehousing Wages and Salaries in Minnesota
MNWTRA
Gross Domestic Product: Private Services-Providing Industries in Minnesota
MNPRISERVPRONGSP
Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in Minnesota
MNBRDTELENGSP
Real Gross Domestic Product: Support Activities for Mining (213) in Minnesota
MNSAMINRGSP
Poverty Universe, Age 5-17 related for Minnesota
PUA5T17RMN27000A647NCEN
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Minnesota (MNADMINWASTRGSP), retrieved from FRED.