Value-Added Output for Private Nonfarm in Massachusetts
IPUZNT300250000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
654,953.59
Year-over-Year Change
79.90%
Date Range
1/1/2007 - 1/1/2024
Summary
The Value-Added Output for Private Nonfarm in Massachusetts measures the economic output of private businesses in the state, excluding farms. This metric provides insight into the overall health and productivity of the Massachusetts 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
Value-added output represents the total market value of goods and services produced by private businesses, minus the cost of raw materials and other inputs. This indicator is a key measure of economic activity and productivity used by policymakers and analysts to evaluate regional economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
Trends in Massachusetts' private nonfarm value-added output are closely watched by economists and investors to gauge the state's economic conditions and growth prospects.
Key Facts
- Massachusetts ranks 15th among U.S. states by private nonfarm GDP.
- Value-added output in Massachusetts grew by 3.2% in 2021.
- The finance and insurance sector accounts for the largest share of Massachusetts' private nonfarm value-added.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total market value of goods and services produced by private businesses in Massachusetts, excluding the agricultural sector.
Q: Why is this trend relevant for users or analysts?
A: Tracking Massachusetts' private nonfarm value-added output provides insights into the overall health and productivity of the state's economy, which is important for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The 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: Trends in Massachusetts' private nonfarm value-added output are closely watched by economists and policymakers to gauge the state's economic conditions and growth prospects, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most current economic conditions in Massachusetts.
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Citation
U.S. Federal Reserve, Value-Added Output for Private Nonfarm in Massachusetts (IPUZNT300250000), retrieved from FRED.