Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Wisconsin
WIADMINWASTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,749.70
Year-over-Year Change
85.10%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Wisconsin measures the economic output of this sector in the state. It is a key indicator of business activity and growth in Wisconsin's administrative, waste, and remediation services industries.
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 series represents the value added by the administrative, support, waste management, and remediation services industries to Wisconsin's overall gross domestic product. It provides insight into the performance and contribution of these service-oriented sectors to the state's economic landscape.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive state-level GDP estimates.
Historical Context
Policymakers and analysts use this metric to gauge the health and competitiveness of Wisconsin's administrative and waste management services industries.
Key Facts
- Wisconsin's administrative and waste services sector contributed $12.4 billion to state GDP in 2021.
- This industry accounts for over 5% of Wisconsin's total economic output.
- Employment in this sector has grown by 8% in Wisconsin over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) contribution of Wisconsin's administrative, support, waste management, and remediation services industries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and role of these service-oriented sectors within Wisconsin's broader economy.
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 their state-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the health and competitiveness of Wisconsin's administrative and waste management services industries.
Q: Are there update delays or limitations?
A: This data is published on a quarterly basis by the U.S. Bureau of Economic Analysis, with some lag from the reference period.
Related Trends
Chain-Type Quantity Index for Real GDP: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Wisconsin
WIPRFRMSPRTMSMQGSP
Personal Consumption Expenditures: Nondurable Goods: Other Nondurable Goods for Wisconsin
WIPCEONDURG
Proprietors' Nonfarm Income in Wisconsin
WIONON
Monthly State Retail Sales: Furniture and Home Furnishings Stores in Wisconsin
MSRSWI442
Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Wisconsin
WIOTHSERVEQGSP
Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Wisconsin
WINMPRPPSERVERENT
Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Wisconsin (WIADMINWASTNGSP), retrieved from FRED.