Gross Domestic Product: Waste Management and Remediation Services (562) in Tennessee
TNWASTENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,704.10
Year-over-Year Change
74.03%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Waste Management and Remediation Services (562) in Tennessee' series measures the economic output of the waste management and remediation services industry in the state of Tennessee. This metric is important for policymakers and economists to understand the scale and trends within this key service 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
This series tracks the real gross domestic product (GDP) contribution of the waste management and remediation services industry in Tennessee. It provides valuable insights into the economic performance and importance of this industry within the state's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Historical Context
Policymakers and industry analysts utilize this trend to assess the waste management sector's economic impact and inform relevant policy decisions.
Key Facts
- Tennessee's waste management and remediation services industry contributed $1.7 billion to the state's GDP in 2021.
- This sector has grown by 3.2% annually on average over the past 5 years.
- Waste management is a key part of Tennessee's broader service economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) contribution of the waste management and remediation services industry in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic performance and significance of the waste management sector within Tennessee's overall economy, which is valuable information for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of government and private data sources.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts utilize this trend to assess the waste management sector's economic impact and inform relevant policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential limitations as other economic statistics published by the U.S. government.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Waste Management and Remediation Services (562) in Tennessee (TNWASTENGSP), retrieved from FRED.