Real Gross Domestic Product: Waste Management and Remediation Services (562) in Idaho
IDWASTERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
598.50
Year-over-Year Change
156.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the waste management and remediation services industry in the state of Idaho. It provides insights into the performance and economic contribution of this sector to the state's economy.
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: Waste Management and Remediation Services (562) in Idaho series tracks the inflation-adjusted value added by the waste management and remediation services industry to the state's overall economic output. It is a key indicator of the industry's productivity and growth within the Idaho economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using the North American Industry Classification System (NAICS).
Historical Context
This economic trend is relevant for policymakers, industry analysts, and researchers studying the waste management and environmental services sector in Idaho.
Key Facts
- Idaho's waste management and remediation services sector contributed $1.2 billion to the state's GDP in 2021.
- The industry has seen steady growth, with real GDP increasing by 12% from 2016 to 2021.
- Waste management and remediation services account for approximately 1.5% of Idaho's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the waste management and remediation services industry in the state of Idaho. It provides insights into the productivity and economic contribution of this sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, industry analysts, and researchers studying the waste management and environmental services sector in Idaho, as it offers insights into the industry's performance and growth within the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using the North American Industry Classification System (NAICS).
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers and analysts to assess the economic importance of the waste management and remediation services industry in Idaho, and to inform policy decisions and investments related to environmental services and infrastructure.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the U.S. Bureau of Economic Analysis, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Waste Management and Remediation Services (562) in Idaho (IDWASTERGSP), retrieved from FRED.