Gross Domestic Product: Waste Management and Remediation Services (562) in Rhode Island
RIWASTENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
348.80
Year-over-Year Change
118.14%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) contribution of the waste management and remediation services industry in Rhode Island. It provides insight into the economic importance 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 RIWASTENGSP series tracks the GDP generated by establishments engaged in waste collection, treatment and disposal, and remediation and other waste management services in Rhode Island. This data helps analyze the scale and growth of the waste management industry and its impact on the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry estimates.
Historical Context
Policymakers and industry analysts use this trend to assess the economic significance of the waste management sector and inform decisions around infrastructure, regulation, and sustainability initiatives.
Key Facts
- Rhode Island's waste management GDP was $340 million in 2021.
- The waste management sector accounts for 0.7% of Rhode Island's total GDP.
- GDP in this industry has grown by 2.3% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contributed by the waste management and remediation services industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic significance of the waste management sector and can inform policymaking, investment, and sustainability decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry estimates.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the scale and growth of the waste management industry and its impact on Rhode Island's overall economic activity.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Waste Management and Remediation Services (562) in Rhode Island (RIWASTENGSP), retrieved from FRED.