Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Hawaii
HIADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,819.20
Year-over-Year Change
6.42%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services (NAICS sector 56) industry in Hawaii. It provides valuable insights into the performance and contribution of this important economic sector in the state.
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 GDP for the administrative and support and waste management and remediation services industry in Hawaii represents the total inflation-adjusted value of goods and services produced by this sector. It is a key indicator of the sector's economic activity and productivity within the state's overall economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is useful for policymakers, economists, and industry analysts to assess the health and evolution of Hawaii's service-based economy.
Key Facts
- Hawaii's administrative and support and waste management sector accounts for over 5% of the state's total GDP.
- This industry experienced steady growth in real GDP over the past decade, outpacing the overall state economy.
- The sector employs more than 40,000 workers in Hawaii, making it a significant contributor to the local job 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 Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of an important service-based sector within Hawaii's economy, which is useful for policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and evolution of Hawaii's service-based economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but there may be some delays in reporting due to the complexity of the underlying economic statistics.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Hawaii (HIADMINWASTRQGSP), retrieved from FRED.