Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in North Carolina
NCADMINWASTNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,473.20
Year-over-Year Change
22.29%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) for the administrative and support and waste management and remediation services industry in North Carolina. It provides insight into the performance and contribution of this key service sector to the state's overall economic activity.
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 administrative and support and waste management and remediation services industry encompasses a wide range of business support functions, including office administration, facilities management, security services, and waste disposal. Tracking the GDP of this sector allows economists and policymakers to assess the health and productivity of these essential services within North Carolina's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by state and industry accounts.
Historical Context
This economic indicator is widely used by analysts, investors, and government agencies to monitor the performance and trends within North Carolina's service-based industries.
Key Facts
- North Carolina's administrative and support services GDP was $20.7 billion in 2021.
- This sector accounts for 2.9% of the state's total GDP.
- The industry has seen steady growth, with a 5-year average annual increase of 3.4%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) for the administrative and support and waste management and remediation services industry in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Tracking the GDP of this service sector allows economists and policymakers to assess the health and productivity of these essential business functions within North Carolina's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP by state and industry accounts.
Q: How is this trend used in economic policy?
A: This indicator is widely used by analysts, investors, and government agencies to monitor the performance and trends within North Carolina's service-based industries, which are crucial for the state's overall economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in North Carolina (NCADMINWASTNQGSP), retrieved from FRED.