Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Virginia
Annual, Not Seasonally Adjusted
VAADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120.83
Year-over-Year Change
43.09%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the value added by the administrative and waste services industry as a component of gross state product (GSP). It provides insights into the productivity and economic contribution of this 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 administrative and waste services industry includes a diverse range of business support activities, such as office administration, facilities support, and waste management services. Tracking the value added by this industry is useful for analyzing regional economic dynamics and structural changes.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and estimates.
Historical Context
Policymakers and analysts use this trend to assess the health and competitiveness of the administrative and waste services industry, which is an important component of the broader service sector.
Key Facts
- The administrative and waste services industry accounts for approximately 3% of U.S. gross state product.
- This industry has experienced steady growth over the past decade, reflecting the increasing demand for business support services.
- The value added by the administrative and waste services industry varies significantly across different states and regions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value added by the administrative and waste services industry as a component of gross state product (GSP).
Q: Why is this trend relevant for users or analysts?
A: Tracking the value added by the administrative and waste services industry provides insights into the productivity and economic contribution of this important service sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and competitiveness of the administrative and waste services industry, which is a key component of the broader service sector.
Q: Are there update delays or limitations?
A: The data is published annually, with a typical delay of several months from the end of the reference period.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (VAADMINWASTQGSP), retrieved from FRED.