Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Massachusetts
MAAGRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.18
Year-over-Year Change
-21.34%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Massachusetts measures the real output of this industry sector in the state. It is a key indicator of economic activity and productivity in these important natural resource-based industries.
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 tracks the inflation-adjusted total value of goods and services produced by the agriculture, forestry, fishing, and hunting sector in Massachusetts. It is used by economists and policymakers to assess the health and trends within these industries, which are vital components of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for price changes over time.
Historical Context
This index informs analysis of the Massachusetts economy and supports policy decisions related to these industries.
Key Facts
- Massachusetts is a leading producer of cranberries, maple syrup, and seafood.
- The agriculture, forestry, fishing, and hunting sector accounts for over 3% of the state's GDP.
- This index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted value of goods and services produced by the agriculture, forestry, fishing, and hunting sector in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the health and productivity of vital natural resource-based industries in the Massachusetts economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to account for price changes over time.
Q: How is this trend used in economic policy?
A: This index informs analysis of the Massachusetts economy and supports policy decisions related to the agriculture, forestry, fishing, and hunting industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Agriculture, Forestry, Fishing and Hunting (11) in Massachusetts (MAAGRQGSP), retrieved from FRED.