Real Gross Domestic Product: All Industry Total in Maryland
MDRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
435,707.20
Year-over-Year Change
5.30%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: All Industry Total in Maryland measures the total economic output of all industries in the state, adjusted for inflation. This metric is a key indicator of Maryland's overall economic health and performance.
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
Real GDP is a comprehensive measure of the value of all goods and services produced within a geographic region, such as a state. It is a widely used statistic by economists and policymakers to assess the strength and trajectory of an economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
Tracking Maryland's real GDP helps inform economic and policy decisions at the state and federal levels.
Key Facts
- Maryland's real GDP reached $416 billion in 2021.
- The state's real GDP grew by 5.2% in 2021 after declining in 2020.
- The largest contributors to Maryland's GDP are professional services, government, and finance.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: All Industry Total in Maryland measures the total economic output of all industries in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Maryland's overall economic health and performance, helping inform economic and policy decisions at the state and federal levels.
Q: How is this data collected or calculated?
A: This data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Tracking Maryland's real GDP helps inform economic and policy decisions at the state and federal levels, as it provides a comprehensive measure of the state's economic output and performance.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: All Industry Total in Maryland (MDRQGSP), retrieved from FRED.