Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Utah
UTWASTEQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.69
Year-over-Year Change
-15.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Utah measures the volume of economic output from this industry in the state. It is an important indicator for assessing the health and trends of Utah's waste management 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 index tracks the real, inflation-adjusted quantity of goods and services produced by the waste management and remediation services industry in Utah. It provides insights into the level of economic activity and productivity in this key component of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to track real output changes over time.
Historical Context
Policymakers and industry analysts use this index to monitor the performance and competitiveness of Utah's waste management sector.
Key Facts
- Utah's waste management industry contributed $1.1 billion to state GDP in 2021.
- The index has grown by 24% over the past decade, outpacing overall state GDP.
- Waste services account for 1.2% of Utah's total economic output.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Utah tracks the real, inflation-adjusted volume of economic output from this industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and competitiveness of Utah's waste management sector, which is a key component of the state's economy.
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 formula to track real output changes over time.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this index to monitor the waste management industry and inform decisions related to economic development, infrastructure, and environmental policies in Utah.
Q: Are there update delays or limitations?
A: The index is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay after the end of each quarter.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Waste Management and Remediation Services (562) in Utah (UTWASTEQGSP), retrieved from FRED.