Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in North Dakota
Annual, Not Seasonally Adjusted
NDADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
972.20
Year-over-Year Change
20.44%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the value added in the waste management and remediation services industry as a component of gross state product. This metric provides insight into the economic activity and productivity of the waste management 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 waste management and remediation services industry is an important component of the U.S. economy, responsible for handling and processing solid, liquid, and hazardous waste. This annual, not seasonally adjusted series tracks the value added by this industry to overall state-level economic output.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive gross domestic product (GDP) and gross state product (GSP) accounts.
Historical Context
Policymakers and industry analysts use this metric to monitor the economic health and productivity trends within the waste management sector.
Key Facts
- The waste management industry accounts for over $100 billion in annual U.S. economic output.
- Waste management value added has grown at an average annual rate of 2.5% over the past decade.
- The industry employs nearly 1 million workers across the United States.
FAQs
Q: What does this economic trend measure?
A: This series measures the value added by the waste management and remediation services industry as a component of overall gross state product (GSP).
Q: Why is this trend relevant for users or analysts?
A: The waste management industry is a critical component of the U.S. economy, and this metric provides insight into its productivity and economic contribution at the state level.
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 and GSP accounting.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to monitor the economic health and productivity trends within the waste management sector, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is released annually with a lag of several months, so there may be delays in accessing the most recent information.
Related Trends
Estimated Percent of People Age 0-17 in Poverty for North Dakota
PPU18ND38000A156NCEN
All Employees: Professional and Business Services in North Dakota
NDPBSV
Chain-Type Quantity Index for Real GDP: Arts, Entertainment, and Recreation (71) in North Dakota
NDARTENTRECQQGSP
Professional and Technical Services Earnings in North Dakota
NDEPRO
State Government Tax Collections, Other License Taxes in North Dakota
NDOTHLICTAX
Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in North Dakota
NDFRBCINGSP
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (NDADMINWASTRGSP), retrieved from FRED.