Gross Domestic Product: Waste Management and Remediation Services (562) in Minnesota
MNWASTENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,374.30
Year-over-Year Change
109.34%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the gross domestic product (GDP) of the waste management and remediation services industry in Minnesota. It provides insights into the economic activity and productivity 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 Gross Domestic Product: Waste Management and Remediation Services (562) in Minnesota metric tracks the overall output and value-added contribution of the waste management and environmental remediation industry to Minnesota's economy. This data is useful for analyzing the relative size, growth, and economic significance of this industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is relevant for policymakers, industry analysts, and businesses interested in understanding the economic performance and trends within Minnesota's waste management and environmental services sector.
Key Facts
- Minnesota's waste management GDP was $2.6 billion in 2020.
- This industry accounts for 0.8% of Minnesota's total economic output.
- Waste management GDP in Minnesota grew by 3.2% annually from 2015 to 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the waste management and remediation services industry in the state of Minnesota. It provides insights into the overall economic activity and productivity of this sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for understanding the relative size, growth, and economic significance of Minnesota's waste management and environmental services industry. It provides important context for policymakers, industry analysts, and businesses operating in this sector.
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 metric is relevant for policymakers, industry analysts, and businesses interested in understanding the economic performance and trends within Minnesota's waste management and environmental services sector. It can inform policy decisions, industry strategies, and investment decisions.
Q: Are there update delays or limitations?
A: There may be some delays in the availability of the most recent data, as it must be collected and processed by the statistical agencies. Additionally, the data may not capture all economic activity within this industry, as it is based on official government reporting.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Waste Management and Remediation Services (562) in Minnesota (MNWASTENGSP), retrieved from FRED.