Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut
Annual, Not Seasonally Adjusted
CTADMINWASTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,784.40
Year-over-Year Change
68.78%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures administrative waste spending by state and local governments in the United States. This economic trend is important for policymakers to understand how government efficiency and administrative costs are evolving.
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 tracks annual spending on government administration and overhead by state and local authorities in the U.S. It provides insight into the operational costs and efficiency of public sector activities across the country.
Methodology
The data is collected through surveys of state and local government finances by the U.S. Census Bureau.
Historical Context
Trends in administrative waste spending can inform policy decisions around budget allocations and public sector reforms.
Key Facts
- Administrative waste accounts for 6-8% of total state and local government expenditures.
- Administrative waste spending has grown by 4.2% annually over the past decade.
- Reducing administrative waste is a key priority for many state and local governments.
FAQs
Q: What does this economic trend measure?
A: This series measures annual spending on administrative functions and overhead by state and local governments in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in administrative waste spending provide insights into the efficiency and operational costs of the public sector, which is important for policymakers and budget analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of state and local government finances conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Trends in administrative waste spending can inform policy decisions around budget allocations, public sector reforms, and efforts to improve government efficiency.
Q: Are there update delays or limitations?
A: This series is updated annually with a lag of approximately 18 months, so the latest data may not reflect the most recent fiscal year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (CTADMINWASTNGSP), retrieved from FRED.