Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Massachusetts
MAEDHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.86
Year-over-Year Change
24.77%
Date Range
1/1/1997 - 1/1/2024
Summary
This index measures the real GDP chain-type quantity index for the educational services, health care, and social assistance sectors in Massachusetts. It provides insights into the economic performance and growth trends in these key service 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
The chain-type quantity index for real GDP tracks changes in the real output of specific industries or sectors in an economy. This index focuses on the educational services, health care, and social assistance sectors in Massachusetts, offering valuable data for analyzing the state's economic composition and service-based industries.
Methodology
The data is calculated using the chain-type quantity index method, which adjusts for price changes to measure real output.
Historical Context
This index is used by economists, policymakers, and industry analysts to understand the economic dynamics and growth patterns in Massachusetts's service sectors.
Key Facts
- The index base year is 2012.
- The series spans from 2005 to the present.
- Massachusetts is a major hub for healthcare and education in the U.S.
FAQs
Q: What does this economic trend measure?
A: This index measures the real GDP chain-type quantity index for the educational services, health care, and social assistance sectors in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the economic performance and growth trends of key service industries in Massachusetts, which are important for understanding the state's economic composition and dynamics.
Q: How is this data collected or calculated?
A: The data is calculated using the chain-type quantity index method, which adjusts for price changes to measure real output.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and industry analysts to understand the economic dynamics and growth patterns in Massachusetts's service sectors, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The series is updated regularly by the U.S. Federal Reserve and available through the FRED database.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Massachusetts (MAEDHLTHSOCASSQGSP), retrieved from FRED.