Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Tennessee
TNADMINWASTQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.14
Year-over-Year Change
-6.24%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in Tennessee measures the real output of this economic sector in the state. It is a key indicator for understanding productivity and growth in Tennessee's service industry.
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 the real, inflation-adjusted value of goods and services produced by administrative, support, waste management, and remediation businesses in Tennessee. It is used by economists and policymakers to analyze the state's economic structure and service sector performance.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This indicator provides insight into the health and dynamics of Tennessee's service economy, which is critical for informing economic and workforce development initiatives.
Key Facts
- Tennessee's administrative and waste services sector accounts for over 7% of the state's GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a 6.2% decline in this sector's real output in 2020.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the administrative, support, waste management, and remediation services sector in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the performance and productivity of a key service industry in Tennessee, which is important for understanding the state's overall economic structure and growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: This index helps inform economic and workforce development initiatives in Tennessee by providing data on the health and dynamics of the state's service sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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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 Tennessee (TNADMINWASTQQGSP), retrieved from FRED.