Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts
MANDURMANQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
152.51
Year-over-Year Change
7.90%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts tracks the volume of output from the nondurable goods manufacturing sector in the state. This metric is important for understanding economic trends and productivity in a key 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 measures changes in the real output of nondurable goods manufacturing establishments in Massachusetts, including subsectors such as food, beverage, and tobacco products, as well as textile, apparel, and leather products. It provides insights into the health and performance of a crucial component of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this index to gauge the strength and trajectory of the nondurable goods manufacturing industry in Massachusetts, which informs economic policy decisions.
Key Facts
- The nondurable goods manufacturing sector accounts for over 10% of Massachusetts' GDP.
- This index has shown steady growth in recent years, indicating a robust manufacturing industry.
- Massachusetts is a major hub for food, beverage, and pharmaceutical production in the U.S.
FAQs
Q: What does this economic trend measure?
A: This index measures changes in the real output of nondurable goods manufacturing establishments in Massachusetts, including sectors such as food, beverage, and textile products.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and performance of a crucial component of Massachusetts' economy, informing policy decisions and economic analysis.
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: Policymakers and analysts use this index to gauge the strength and trajectory of the nondurable goods manufacturing industry in Massachusetts, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, with minimal delays, and provides a comprehensive picture of the nondurable goods manufacturing sector in Massachusetts.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts (MANDURMANQQGSP), retrieved from FRED.