Real Gross Domestic Product: Government and Government Enterprises (92) in Massachusetts
MAGOVRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,890.80
Year-over-Year Change
8.09%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the government and government enterprises sector in Massachusetts. It provides important insights into the economic activity and contribution of the public sector within the state.
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 Real Gross Domestic Product: Government and Government Enterprises (92) in Massachusetts metric tracks the inflation-adjusted output of the government and government enterprises industry in the state. This data is a key indicator for understanding the size and performance of the public sector's economic role.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and analysts use this trend to assess the fiscal health and economic impact of the government sector in Massachusetts.
Key Facts
- Massachusetts government GDP was $78.1 billion in 2021.
- The government sector accounts for 10.5% of Massachusetts' total GDP.
- Real government GDP in Massachusetts has grown by 2.1% annually since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the government and government enterprises sector in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the size, performance, and economic contribution of the public sector in Massachusetts, which is crucial information for policymakers and economic analysts.
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 modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the fiscal health and economic impact of the government sector in Massachusetts, which informs policy decisions and budget planning.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Government and Government Enterprises (92) in Massachusetts (MAGOVRQGSP), retrieved from FRED.