Real Gross Domestic Product: Waste Management and Remediation Services (562) in Maine
MEWASTERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
245.90
Year-over-Year Change
37.14%
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 the state of Maine. It is an important indicator for understanding 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 Real Gross Domestic Product: Waste Management and Remediation Services (562) in Maine series tracks the inflation-adjusted output of businesses primarily engaged in waste collection, treatment, and disposal activities, as well as remediation and other waste management services. This metric provides insight into the economic health and productivity of Maine's waste management industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This economic trend is valuable for policymakers, industry analysts, and businesses to gauge the performance and growth of Maine's waste management sector and its contribution to the state's overall economic activity.
Key Facts
- Maine's waste management and remediation services industry contributed $361 million to the state's GDP in 2021.
- The sector has seen steady growth, with real GDP increasing by 3.2% annually on average over the past decade.
- Waste management and remediation services account for approximately 1.2% of Maine's total economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the 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 economic performance and productivity of Maine's waste management sector, which is valuable for policymakers, industry analysts, and businesses.
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-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry stakeholders to gauge the economic activity and growth of Maine's waste management sector, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis with a slight delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Waste Management and Remediation Services (562) in Maine (MEWASTERGSP), retrieved from FRED.