Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Rhode Island
RIADMINWASTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,765.20
Year-over-Year Change
97.53%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) contribution of the administrative, support, waste management, and remediation services sector in Rhode Island. It provides insights into the economic activity and productivity of this critical industry 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 RIADMINWASTNGSP series tracks the GDP generated by establishments engaged in administrative and support services, as well as waste management and remediation services, in Rhode Island. This metric helps analysts and policymakers understand the relative size and performance of this service-oriented industry in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its regional GDP estimates.
Historical Context
This trend is used to inform economic and policy decisions related to the administrative, support, and waste management industries in Rhode Island.
Key Facts
- Rhode Island's administrative and waste services sector accounts for approximately 4% of the state's GDP.
- This industry has seen steady growth in recent years, reflecting the expanding service economy in the state.
- The data is released quarterly, providing timely insights into this important component of Rhode Island's economic performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the administrative, support, waste management, and remediation services sector in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size and performance of a critical service-oriented industry within Rhode Island's economy, which is useful for economic analysis and policy decisions.
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 its regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic and policy decisions related to the administrative, support, and waste management industries in Rhode Island.
Q: Are there update delays or limitations?
A: The data is released quarterly, providing timely insights into this important component of Rhode Island's economic performance.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Rhode Island (RIADMINWASTNGSP), retrieved from FRED.