Real Gross Domestic Product: Waste Management and Remediation Services (562) in Massachusetts
MAWASTERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,773.00
Year-over-Year Change
13.84%
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 Massachusetts. It provides insights into the performance and growth of this critical environmental sector.
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 Massachusetts series tracks the inflation-adjusted economic output of the waste management and environmental remediation industry in the state. It is a key indicator of the health and productivity of this specialized service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-specific price deflators.
Historical Context
This trend is closely monitored by policymakers, waste management companies, and environmental organizations to assess the industry's economic contributions and sustainability.
Key Facts
- Massachusetts accounts for over 5% of U.S. waste management GDP.
- The industry employs nearly 20,000 workers in the state.
- Waste management GDP grew by 3.2% in Massachusetts in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the waste management and remediation services industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and growth of the waste management sector, which is a critical component of environmental sustainability and the overall 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 industry-specific price deflators to adjust for inflation.
Q: How is this trend used in economic policy?
A: Policymakers, waste management companies, and environmental organizations closely monitor this trend to assess the industry's economic contributions and guide decisions around infrastructure, regulations, and sustainability initiatives.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Waste Management and Remediation Services (562) in Massachusetts (MAWASTERGSP), retrieved from FRED.