Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in South Dakota
SDADMINWASTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.56
Year-over-Year Change
41.50%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in South Dakota measures the real economic output of this industry sector in the state. This is a key indicator for understanding the overall health and performance of South Dakota's economy.
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
This index tracks changes in the real, inflation-adjusted quantity of goods and services produced by the administrative, support, waste management, and remediation services industry in South Dakota. It is a component of the state's real GDP and provides insights into the productivity and growth of this crucial service sector.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
Policymakers and analysts use this index to assess the competitive position and economic contribution of South Dakota's administrative and waste services industry.
Key Facts
- South Dakota's administrative and waste services sector accounts for over 6% of the state's real GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- The sector employs nearly 40,000 workers in South Dakota.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by the administrative, support, waste management, and remediation services industry in South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This index provides crucial insights into the productivity and growth of an important service sector in South Dakota's economy, helping policymakers and analysts assess its competitive position and economic contribution.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the health and performance of South Dakota's administrative and waste services industry, which is a key component of the state's overall economic activity.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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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 South Dakota (SDADMINWASTQGSP), retrieved from FRED.