Real Gross Domestic Product: Waste Management and Remediation Services (562) in Rhode Island
RIWASTERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
238.60
Year-over-Year Change
26.44%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the waste management and remediation services industry in Rhode Island. It provides insight into the economic output and productivity of this key 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 Real Gross Domestic Product: Waste Management and Remediation Services (562) in Rhode Island series tracks the inflation-adjusted economic output of waste management and environmental remediation activities within the state. It is an important indicator of industrial activity and environmental infrastructure.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting principles.
Historical Context
This metric informs policymakers and industry analysts about trends in Rhode Island's waste management and environmental services sector.
Key Facts
- Rhode Island's waste management GDP was $291 million in 2021.
- This sector accounts for 0.5% of the state's total economic output.
- The waste GDP has grown by 2.8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real, inflation-adjusted gross domestic product of the waste management and environmental remediation services industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into the productivity and economic importance of waste management and environmental services, which are critical for public health and sustainability.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this data using standard national accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to understand trends in Rhode Island's environmental services sector and inform infrastructure, regulatory, and sustainability initiatives.
Q: Are there update delays or limitations?
A: This data is published annually with a lag of several quarters. It may not capture short-term fluctuations in the waste management industry.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Waste Management and Remediation Services (562) in Rhode Island (RIWASTERGSP), retrieved from FRED.