Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Massachusetts
MAAGRRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
824.10
Year-over-Year Change
-21.34%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the agriculture, forestry, fishing, and hunting industry in Massachusetts. It provides insights into the productivity and performance of this vital sector of the state'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
The Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Massachusetts data series tracks the inflation-adjusted economic output of this industry within the state. It is a key indicator used by economists and policymakers to assess the health and growth of this important component of Massachusetts' overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is closely monitored by state and federal agencies to inform economic and agricultural policy decisions.
Key Facts
- Massachusetts is a leading producer of cranberries, maple syrup, and seafood.
- The agriculture, forestry, fishing, and hunting sector accounts for over $2 billion in annual GDP in Massachusetts.
- This industry employs over 25,000 workers in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the agriculture, forestry, fishing, and hunting industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the productivity and performance of a vital sector of the Massachusetts economy, which is closely monitored by policymakers and economists.
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: This trend is closely tracked by state and federal agencies to inform economic and agricultural policy decisions that impact the Massachusetts economy.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several quarters, and may be subject to periodic revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Agriculture, Forestry, Fishing and Hunting (11) in Massachusetts (MAAGRRGSP), retrieved from FRED.