Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Massachusetts
MAPETCOALMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93.93
Year-over-Year Change
103.93%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Massachusetts measures the volume of economic output in this industry within the state. It is an important indicator for policymakers and analysts tracking the performance of the energy production sector.
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 provides a measure of real GDP, or inflation-adjusted economic output, specifically for the petroleum and coal products manufacturing industry in Massachusetts. It allows for analysis of trends and changes in the volume of production in this key industrial sector over time.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using data collected through business surveys.
Historical Context
This data series is closely watched by economists and policymakers to assess the state of the energy industry and its broader economic impacts.
Key Facts
- Massachusetts is a major center for petroleum and coal products manufacturing.
- This index tracks volume changes in a crucial industrial sector.
- The data is updated quarterly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted volume of economic output in the petroleum and coal products manufacturing industry within the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: The performance of the energy production sector is a key indicator for policymakers and economists, and this data series provides important insights into trends within this crucial industry in Massachusetts.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using data collected through business surveys.
Q: How is this trend used in economic policy?
A: This data series is closely monitored by economists and policymakers to assess the state of the energy industry and its broader economic impacts within Massachusetts.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a short delay between the end of the reference period and the release of the data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Massachusetts (MAPETCOALMANQGSP), retrieved from FRED.