Gross Domestic Product: Government and Government Enterprises (92) in Massachusetts
MAGOVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,224.30
Year-over-Year Change
45.99%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Government and Government Enterprises (92) in Massachusetts series measures the economic output of the government sector in the state. It is a key indicator of the size and influence of the public sector on the overall 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
This series represents the total gross domestic product (GDP) generated by government and government enterprises in Massachusetts. It is an important metric for analyzing the economic role and impact of the public sector at the state level.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and economists closely monitor this trend to understand the fiscal and economic dynamics within Massachusetts.
Key Facts
- Government and government enterprises account for over 12% of Massachusetts' GDP.
- This series has grown at an average annual rate of 3.2% over the past decade.
- The public sector is a major driver of economic activity in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This series measures the total gross domestic product (GDP) generated by government and government enterprises within the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: The size and growth of the government sector's economic output is a key indicator for understanding the role and influence of the public sector in the Massachusetts economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to analyze the fiscal and economic dynamics within Massachusetts and inform relevant policy decisions.
Q: Are there update delays or limitations?
A: This series is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Government and Government Enterprises (92) in Massachusetts (MAGOVNGSP), retrieved from FRED.