Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in North Carolina
NCADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140.29
Year-over-Year Change
62.43%
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 (NAICS 56) industry in North Carolina. It provides insights into the productivity and growth of 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
The chain-type quantity index for real GDP tracks the volume of economic output for a specific industry or region, adjusting for inflation. This metric is widely used by economists and policymakers to analyze sectoral trends and inform economic decision-making.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical sources.
Historical Context
This trend is relevant for understanding North Carolina's economic performance and the dynamics of its service industries.
Key Facts
- The index is measured with 2012 as the base year.
- North Carolina's Administrative and Support Services sector accounts for over 5% of the state's GDP.
- The trend has shown steady growth in recent years, reflecting the sector's economic importance.
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 (NAICS 56) industry in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and growth of a key service sector in North Carolina, which is useful for economic analysis and policy decision-making.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical sources.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding North Carolina's economic performance and the dynamics of its service industries, which can inform policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological updates of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in North Carolina (NCADMINWASTQGSP), retrieved from FRED.