Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Pennsylvania
Quarterly, Seasonally Adjusted Annual Rate
PAADMINWASTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,595.60
Year-over-Year Change
13.47%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the quarterly, seasonally adjusted annual rate of public administration administrative waste as a share of GDP. It provides insights into the efficiency and fiscal management of the public 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 Quarterly, Seasonally Adjusted Annual Rate trend tracks the annualized percentage of GDP that is attributed to administrative waste within public administration. This metric is used by economists and policymakers to gauge the operational efficiency of the government sector.
Methodology
The data is calculated by the U.S. Federal Reserve using national income and product accounts.
Historical Context
This trend is relevant for assessing the fiscal responsibility and administrative overhead of the public sector.
Key Facts
- Public administration accounts for about 15% of U.S. GDP.
- Administrative waste has remained below 2% of GDP since 2010.
- Reducing administrative overhead is a key focus for fiscal policymakers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly, seasonally adjusted annual rate of public administration administrative waste as a share of GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the efficiency and fiscal management of the public sector, which is crucial for assessing government operations and fiscal responsibility.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to gauge the operational efficiency of the government sector and inform decisions on fiscal policy and public administration reform.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (PAADMINWASTNQGSP), retrieved from FRED.