Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Massachusetts
MAFININSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.81
Year-over-Year Change
-9.40%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Massachusetts measures the real (inflation-adjusted) economic output of the finance and insurance sector in the state. This is a key indicator for understanding the state's economic health and composition.
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 is a measure of real GDP, which accounts for changes in both price and quantity. This index specifically focuses on the finance and insurance industry in Massachusetts, providing insights into the productivity and contribution of this important economic sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
Policymakers and analysts use this index to assess the performance and competitiveness of Massachusetts' finance and insurance industry.
Key Facts
- The finance and insurance sector accounts for over 20% of Massachusetts' GDP.
- This index has shown steady growth in recent years, reflecting the sector's importance.
- Massachusetts is a leading hub for the finance and insurance industries in the U.S.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Massachusetts measures the real, inflation-adjusted economic output of the finance and insurance sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This index provides insights into the productivity and performance of a key industry in Massachusetts, helping policymakers and analysts assess the state's economic health and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to evaluate the finance and insurance sector's contribution to Massachusetts' economy and inform decisions related to industry development and competitiveness.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with occasional revisions to prior periods.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Massachusetts (MAFININSQGSP), retrieved from FRED.