Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in South Dakota
SDADMINWASTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,010.90
Year-over-Year Change
41.50%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services sector in South Dakota. It provides insight into the economic activity and productivity of this key 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 Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in South Dakota series tracks the inflation-adjusted economic output of this industry, which includes activities such as office administration, facilities support, waste collection, and remediation services. This metric is used by economists and policymakers to analyze the health and competitiveness of South Dakota's business services sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Trends in this sector's GDP are relevant for understanding the broader service economy and business climate in South Dakota.
Key Facts
- South Dakota's administrative and waste services GDP was $1.6 billion in 2021.
- This sector accounts for 2.5% of the state's total economic output.
- GDP in this industry has grown by 18% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the administrative and support and waste management and remediation services sector in South Dakota.
Q: Why is this trend relevant for users or analysts?
A: Trends in this sector's GDP provide insight into the health and competitiveness of South Dakota's business services industry, which is an important part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to understand the broader service economy and business climate in South Dakota, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in South Dakota (SDADMINWASTRGSP), retrieved from FRED.