Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Massachusetts
MAFOODDPQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.46
Year-over-Year Change
21.18%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Massachusetts measures the real output of the food services and drinking places industry in the state. This metric is valuable for economists and policymakers to assess the health and performance of the hospitality 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
The Chain-Type Quantity Index tracks the real (inflation-adjusted) output of the food services and drinking places industry in Massachusetts. It provides a quantitative measure of the industry's production, accounting for price changes over time. This index is a key indicator for understanding the economic activity and trends within the hospitality sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the national income and product accounts.
Historical Context
This metric is used by economists, investors, and policymakers to monitor the economic conditions and outlook for the food services and drinking places industry in Massachusetts.
Key Facts
- The index is benchmarked to 2012 as the base year.
- Massachusetts accounts for approximately 3.4% of total U.S. food services and drinking places GDP.
- The index reached a record high of 114.5 in Q4 2019 before declining during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Massachusetts measures the real output of the food services and drinking places industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is valuable for economists and policymakers to assess the health and performance of the hospitality sector in Massachusetts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the national income and product accounts.
Q: How is this trend used in economic policy?
A: This metric is used by economists, investors, and policymakers to monitor the economic conditions and outlook for the food services and drinking places industry in Massachusetts.
Q: Are there update delays or limitations?
A: The index is published quarterly, with typical delays of 1-2 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Food Services and Drinking Places (722) in Massachusetts (MAFOODDPQGSP), retrieved from FRED.