Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Minnesota
MNWASTEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.51
Year-over-Year Change
21.35%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Minnesota measures the inflation-adjusted output of the waste management industry in the state. This metric is important for economists and policymakers to track productivity and growth in this key 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
This index provides a measure of the real, price-adjusted value of goods and services produced by the waste management and remediation industry in Minnesota. It is a component of the broader state-level real GDP calculation and helps track economic activity and performance within this industry.
Methodology
The data is collected through surveys of businesses and calculated using chained-dollar valuation methods.
Historical Context
Trends in this index offer insights into the overall health of Minnesota's waste management sector and can inform economic policy and investment decisions.
Key Facts
- Minnesota's waste management industry accounts for over 20,000 jobs.
- The sector's real GDP index has grown by 15% over the past decade.
- Waste services make up approximately 2% of Minnesota's total economic output.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted, real output of the waste management and remediation services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: Tracking the performance of Minnesota's waste management sector provides insights into overall economic activity and productivity in this important service industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and calculated using chained-dollar valuation methods to account for price changes over time.
Q: How is this trend used in economic policy?
A: Trends in this index can inform policymakers and industry stakeholders about the health and growth of Minnesota's waste management sector, which can shape economic development strategies and investment decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 2-3 months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Minnesota (MNWASTEQGSP), retrieved from FRED.