Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Massachusetts
MAWASTEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.06
Year-over-Year Change
13.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Massachusetts measures the real output of the waste management and remediation services industry in the state. This metric is closely watched by economists and policymakers to assess economic activity and industry trends.
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 provides a gauge of the real-dollar volume of goods and services produced by the waste management and remediation services industry in Massachusetts. It is a valuable indicator of productivity, efficiency, and the overall health of this important economic sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Trends in this index offer insights into business investment, consumer behavior, and infrastructure needs that inform economic policy decisions.
Key Facts
- The index is based on North American Industry Classification System (NAICS) code 562.
- The base year for the index is 2012.
- Massachusetts accounts for approximately 3% of U.S. waste management GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted volume of goods and services produced by the waste management and remediation services industry in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the productivity, efficiency, and overall health of an important economic sector that is closely tied to infrastructure, consumer behavior, and environmental policy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Trends in this index inform decisions related to business investment, consumer behavior, and infrastructure needs, which are all relevant to economic policymakers.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Massachusetts (MAWASTEQGSP), retrieved from FRED.