Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Arkansas
ARADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,788.20
Year-over-Year Change
63.26%
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 Arkansas. It is an important indicator of the state's economic performance and business activity in 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 Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Arkansas series tracks the inflation-adjusted output of this industry, which includes services such as office administration, facilities support, waste collection, and remediation. This data provides insight into the health and productivity of a key component of Arkansas's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting standards.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess economic conditions and inform decision-making.
Key Facts
- Arkansas's administrative and waste services industry accounts for approximately 3% of the state's total GDP.
- This sector has experienced steady growth over the past decade, outpacing the national average.
- The industry employs over 50,000 workers in Arkansas, making it a significant contributor to the state's labor market.
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 Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and productivity of a key component of Arkansas's economy, which is closely watched by policymakers, economists, and businesses.
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 standards.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to assess economic conditions and inform decision-making in Arkansas.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with some delays due to the time required for data collection and 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 Arkansas (ARADMINWASTRGSP), retrieved from FRED.