Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Indiana
INADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,593.10
Year-over-Year Change
34.06%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in Indiana. It provides insights into the economic performance and productivity of this crucial service 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 Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Indiana metric tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is a key indicator of the industry's contribution to Indiana's economic growth and competitiveness.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is used by economists, policymakers, and businesses to assess the health and dynamics of Indiana's service sector and inform economic development strategies.
Key Facts
- Indiana's administrative and support services industry accounts for over 4% of the state's GDP.
- This sector has experienced steady growth over the past decade.
- Waste management and remediation services make up a smaller but important component of the industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of a crucial service sector to Indiana's overall economic output, which is important for understanding the state's economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to assess the health and dynamics of Indiana's service sector and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is subject to regular updates from the U.S. Bureau of Economic Analysis, and there may be typical lags in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Indiana (INADMINWASTRGSP), retrieved from FRED.