Real Gross Domestic Product: Private Industries in Massachusetts
MAPIRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
582,377.40
Year-over-Year Change
5.13%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Private Industries in Massachusetts series measures the economic output of private industries in the state of Massachusetts, adjusted for inflation. This metric is important for economists and policymakers to assess the overall health and growth of the state's 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 inflation-adjusted value added by private industries in Massachusetts, which excludes the public sector. It provides insight into the productivity and competitiveness of the state's private economic base, which is crucial for understanding regional economic trends and guiding policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of source data and statistical techniques.
Historical Context
Trends in this metric are closely monitored by state and federal policymakers to gauge the economic performance of Massachusetts and inform policy responses.
Key Facts
- Massachusetts is one of the largest state economies in the U.S.
- Private industries account for over 80% of Massachusetts' GDP.
- The state's real private GDP has grown by over 30% since 2010.
FAQs
Q: What does this economic trend measure?
A: This series measures the total inflation-adjusted value added by private industries in the state of Massachusetts, excluding the public sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in Massachusetts' private GDP provide important insights into the overall health and competitiveness of the state's economy, which is crucial information for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of source data and statistical techniques.
Q: How is this trend used in economic policy?
A: Policymakers at the state and federal level closely monitor this metric to gauge Massachusetts' economic performance and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Private Industries in Massachusetts (MAPIRQGSP), retrieved from FRED.