Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maine
MEADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,137.10
Year-over-Year Change
-8.84%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) for the administrative and support and waste management and remediation services industry in Maine. It provides insight into the economic performance and productivity of this key service 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 (GDP) trend for the administrative and support and waste management and remediation services industry in Maine is an important indicator of economic activity and productivity within this sector. It helps analysts and policymakers understand the dynamics of this service industry and its contribution to the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is used by economists, policymakers, and industry analysts to assess the health and competitiveness of Maine's service sector and inform economic development strategies.
Key Facts
- Maine's administrative and support services industry accounts for over 6% of the state's GDP.
- This sector has experienced steady growth in real GDP over the past decade.
- The waste management and remediation services subsector makes up around 20% of the industry's total output in Maine.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the administrative and support and waste management and remediation services industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and productivity of a key service sector in the Maine economy, helping analysts and policymakers assess its contribution and competitiveness.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to inform economic development strategies and assess the health of Maine's service sector.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule by the U.S. Bureau of Economic Analysis, but there may be a lag of several months between the end of the reference period and the data release.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maine (MEADMINWASTRQGSP), retrieved from FRED.