Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Indiana
INADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.04
Year-over-Year Change
34.06%
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 Indiana measures the real output of this economic sector in the state over time. This provides important insights into the productivity and growth of this key 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 value added by the administrative, support, waste management, and remediation services industry in Indiana. It is a critical indicator for understanding the health and performance of this service-based sector within the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP information.
Historical Context
Economists and policymakers use this index to assess the competitive position and economic contribution of this industry in Indiana.
Key Facts
- This index has a base year of 2012.
- The series began in 2005 and is updated quarterly.
- Indiana's administrative and waste services sector accounted for over 4% of state GDP in 2021.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted value added by the administrative, support, waste management, and remediation services industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the productivity and growth of a key service-based sector within Indiana's economy, which is crucial information for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP information.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this index to assess the competitive position and economic contribution of the administrative and waste services industry in Indiana.
Q: Are there update delays or limitations?
A: This series is updated quarterly and has a base year of 2012.
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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 Indiana (INADMINWASTQGSP), retrieved from FRED.