Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Minnesota
MNADMINWASTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,453.70
Year-over-Year Change
-6.85%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services industry in Minnesota. It provides valuable insights into the performance and productivity of this important 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: Administrative and Support and Waste Management and Remediation Services (56) in Minnesota series tracks the inflation-adjusted output of this industry, which includes activities such as office administration, facilities support, and waste collection and treatment. It is a key indicator of economic activity and productivity in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and competitiveness of Minnesota's service economy.
Key Facts
- Minnesota's administrative and support services industry accounts for over 5% of the state's total GDP.
- This sector has grown by an average of 2.5% annually over the past decade.
- Waste management and remediation services make up approximately 20% of the industry's output in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the administrative and support and waste management and remediation services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and productivity of an important service sector in Minnesota's economy, which is closely monitored by policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and competitiveness of Minnesota's service economy.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with typical update delays of 1-2 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Minnesota (MNADMINWASTRQGSP), retrieved from FRED.