Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Alabama
ALADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,167.90
Year-over-Year Change
2.12%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) generated by the administrative and support, and waste management and remediation services sector in Alabama. It provides insights into the performance and contribution of this industry to the state's overall economic activity.
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 Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Alabama metric tracks the inflation-adjusted value added by this sector to the state's GDP. It is a key indicator of the industry's productivity and growth, which is important for policymakers and analysts to understand the state's economic structure and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by economists, policymakers, and businesses to analyze the performance and contribution of the administrative and support, and waste management and remediation services sector in Alabama's economy.
Key Facts
- The administrative and support, and waste management and remediation services sector accounts for over 5% of Alabama's GDP.
- This sector has experienced steady growth in recent years, outpacing the state's overall economic expansion.
- Alabama's administrative and support, and waste management and remediation services industry employs over 150,000 people.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) generated by the administrative and support, and waste management and remediation services sector in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of the administrative and support, and waste management and remediation services industry to Alabama's overall economic activity, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to analyze the performance and contribution of the administrative and support, and waste management and remediation services sector in Alabama's economy.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Alabama (ALADMINWASTRQGSP), retrieved from FRED.