Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Pennsylvania
PAADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.88
Year-over-Year Change
24.49%
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 Pennsylvania. It provides insights into the production and economic activity in 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 is a measure of real GDP, adjusted for inflation, in the administrative and support and waste management and remediation services industry in Pennsylvania. It serves as a key indicator of economic performance and can inform policymakers and analysts about trends in this segment of the state's economy.
Methodology
The data is calculated by the U.S. Federal Reserve using methods to adjust for inflation and changes in industry composition.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the state of Pennsylvania's economy and the administrative and support services industry.
Key Facts
- The administrative and support services industry accounts for a significant portion of Pennsylvania's GDP.
- This trend has shown moderate growth over the past decade, indicating steady economic activity in the sector.
- Monitoring this index can help policymakers understand the health and trajectory of Pennsylvania's service-based economy.
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 Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the production and economic activity in an important service sector of Pennsylvania's economy, which can inform policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using methods to adjust for inflation and changes in industry composition.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to assess the state of Pennsylvania's economy and the administrative and support services industry.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and limitations of the U.S. Federal Reserve's economic indicators.
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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 Pennsylvania (PAADMINWASTQGSP), retrieved from FRED.