Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Massachusetts
MAFININSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.83
Year-over-Year Change
0.58%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Massachusetts measures the real economic output of the finance and insurance sector in the state. This metric is important for economists and policymakers to gauge the overall health and productivity of a critical industry.
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 chained-dollar volume of real GDP originating in the finance and insurance sector in Massachusetts. It provides a measure of the sector's inflation-adjusted economic activity and production over time, adjusting for price changes. Economists use this data to analyze trends in a key driver of the state's economy.
Methodology
The U.S. Bureau of Economic Analysis calculates this index based on industry-level GDP data.
Historical Context
Policymakers and analysts monitor this index to assess the finance industry's contribution to the Massachusetts economy and its performance relative to other sectors.
Key Facts
- The finance and insurance sector accounts for over 12% of Massachusetts' GDP.
- This index has grown by over 25% since 2010, outpacing the national average.
- Massachusetts ranks among the top states for finance industry employment and output.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted economic output of the finance and insurance sector in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of a critical industry within the Massachusetts economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this index based on industry-level GDP data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to assess the finance industry's role in the Massachusetts economy and its competitiveness relative to other states.
Q: Are there update delays or limitations?
A: This index is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Massachusetts (MAFININSQQGSP), retrieved from FRED.