Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Maine
MEADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.36
Year-over-Year Change
27.51%
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 Maine measures the real output of this economic sector in the state. It provides valuable insights into the productivity and growth trends of this critical 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 quantity or volume of economic activity in the administrative, support, waste management, and remediation services sector in Maine. It is a useful indicator of the overall health and performance of this component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using the chain-type quantity index methodology.
Historical Context
This metric is closely monitored by economists, policymakers, and industry analysts to assess the economic conditions and development in Maine.
Key Facts
- The index uses 2012 as the base year.
- The sector accounts for over 4% of Maine's GDP.
- The index has grown by 8.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output or production volume of the administrative, support, waste management, and remediation services sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and productivity of a key economic sector in Maine, which is useful for assessing the state's overall economic conditions and development.
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 chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, policymakers, and industry analysts to evaluate the economic conditions and growth in Maine's administrative and waste management services sector.
Q: Are there update delays or limitations?
A: The data is released quarterly, with some lag in availability due to the time required for data collection and processing.
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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 Maine (MEADMINWASTQGSP), retrieved from FRED.