Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in South Carolina
SCADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.22
Year-over-Year Change
23.58%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in South Carolina measures the real output of this sector over time, providing insight into the state's economic activity and growth.
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 tracks the quantity, or real output, of the administrative and support and waste management and remediation services sector in South Carolina. It is used by economists and policymakers to analyze productivity, competitiveness, and broader economic trends within this industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This metric is relevant for understanding the health and growth of the service industry in South Carolina and can inform economic and workforce development policies.
Key Facts
- The index has a base year of 2012.
- This sector accounted for 5.2% of South Carolina's GDP in 2021.
- The index reached a high of 117.16 in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the administrative and support and waste management and remediation services sector in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and growth of a key service industry in South Carolina, which can inform economic policy and business decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers and economists to assess the health and competitiveness of South Carolina's service sector, informing decisions around economic development, workforce training, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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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 South Carolina (SCADMINWASTQGSP), retrieved from FRED.