Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut
CTADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.96
Year-over-Year Change
21.48%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut measures the real output of the administrative and waste management sector in the state. This economic indicator is valuable for assessing the productivity and growth trends in a key service industry.
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 index tracks the real, inflation-adjusted GDP output of the administrative and support services as well as waste management and remediation services sectors in Connecticut. It provides insights into the economic performance and productivity of these essential business services at the state level.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information.
Historical Context
Policymakers and economists analyze this index to understand the health and competitiveness of Connecticut's service economy.
Key Facts
- Connecticut's administrative and waste services sector accounts for over 5% of the state's GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The sector employs more than 200,000 people in Connecticut.
FAQs
Q: What does this economic trend measure?
A: This index tracks the real, inflation-adjusted GDP output of the administrative and support services as well as waste management and remediation services sectors in Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the economic performance and productivity of these essential business services at the state level, which is valuable for assessing the health and competitiveness of Connecticut's service economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP information.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this index to understand the health and competitiveness of Connecticut's service economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Connecticut (CTADMINWASTQGSP), retrieved from FRED.