Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Rhode Island
RIADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,217.30
Year-over-Year Change
2.86%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services sector in Rhode Island. It provides valuable insights into the economic performance and productivity of this critical industry.
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 of the administrative and support and waste management and remediation services sector in Rhode Island is a key economic indicator that reflects the overall output and growth of this industry. It is used by economists and policymakers to analyze the state's economic structure, identify trends, and inform decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is relevant for understanding the health and competitiveness of Rhode Island's service-based economy and its ability to support business operations and environmental services.
Key Facts
- Rhode Island's administrative and support and waste management and remediation services sector accounts for over 5% of the state's total GDP.
- This sector has experienced steady growth, with real GDP increasing by 12% over the past decade.
- The industry employs over 30,000 workers in Rhode Island, making it a significant contributor to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services sector in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and productivity of a critical industry in Rhode Island, which is useful for understanding the state's overall economic structure and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is relevant for policymakers and economists to analyze the health and competitiveness of Rhode Island's service-based economy and its ability to support business operations and environmental services.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with typical update delays of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Rhode Island (RIADMINWASTRQGSP), retrieved from FRED.