Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Mississippi
MSADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.88
Year-over-Year Change
27.94%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the administrative and support and waste management and remediation services industry in Mississippi. It provides insights into the productivity and output growth 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 chain-type quantity index for real GDP tracks changes in the volume of goods and services produced in a specific industry or geographic area. It is a widely used metric for evaluating economic performance and structural shifts within an economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to measure real GDP.
Historical Context
This trend is useful for policymakers, researchers, and industry analysts to assess the economic health and competitiveness of the administrative and waste management services sector in Mississippi.
Key Facts
- The index is calculated with a base year of 2012.
- Administrative and waste management services account for over 5% of Mississippi's GDP.
- The sector has seen steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the administrative and support and waste management and remediation services industry in Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the productivity and output growth of an important service sector in the Mississippi economy, which is useful for policymakers, researchers, 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 a chain-weighted approach to measure real GDP.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers, researchers, and industry analysts to assess the economic health and competitiveness of the administrative and waste management services sector in Mississippi.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions by the U.S. Bureau of Economic Analysis.
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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 Mississippi (MSADMINWASTQGSP), retrieved from FRED.