Real Gross Domestic Product: Waste Management and Remediation Services (562) in Connecticut
CTWASTERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
769.60
Year-over-Year Change
-12.74%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Waste Management and Remediation Services (562) in Connecticut measures the economic output of the waste management and remediation services industry in the state. This metric is crucial for understanding the health and growth of the environmental services 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
This series represents the real, inflation-adjusted GDP generated by businesses in the waste management and remediation services industry (NAICS 562) located in the state of Connecticut. It provides insight into the scale and productivity of this sector, which is essential for environmental sustainability and public health.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP by industry statistics.
Historical Context
Policymakers and industry analysts use this metric to gauge the economic importance of waste management and environmental remediation activities within the Connecticut economy.
Key Facts
- Waste management is a $17 billion industry in Connecticut.
- The sector employs over 12,000 workers in the state.
- Connecticut's waste management GDP has grown by 3.2% annually since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) generated by the waste management and remediation services industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides crucial insight into the scale and productivity of Connecticut's environmental services sector, which is essential for understanding the state's economic health and sustainability.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis as part of its regional GDP by industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to gauge the economic importance of waste management and environmental remediation activities within the Connecticut economy.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Waste Management and Remediation Services (562) in Connecticut (CTWASTERGSP), retrieved from FRED.