Gross Domestic Product: Waste Management and Remediation Services (562) in Indiana
INWASTENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,012.60
Year-over-Year Change
116.80%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the waste management and remediation services industry in Indiana. It provides valuable insights into the economic activity and performance of this sector within 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 Gross Domestic Product: Waste Management and Remediation Services (562) in Indiana series tracks the total economic output of the waste management and remediation services industry in the state. This data is used by policymakers, economists, and industry analysts to assess the contribution of this sector to Indiana's overall economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This economic trend is important for understanding the state of Indiana's environmental services industry and its impact on the broader economy.
Key Facts
- Indiana's waste management and remediation services industry contributed $2.1 billion to the state's GDP in 2020.
- The sector has experienced an average annual growth rate of 3.2% over the past 5 years.
- Indiana ranks 12th nationally in terms of GDP for the waste management and remediation services industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the waste management and remediation services industry in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and contribution of Indiana's environmental services sector, which is important for policymakers, industry analysts, and economists.
Q: How is this data collected or calculated?
A: The data is collected and 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 and economists to assess the state of Indiana's environmental services industry and its impact on the broader state economy, informing policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Waste Management and Remediation Services (562) in Indiana (INWASTENGSP), retrieved from FRED.