Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Massachusetts
MARENTRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,275.60
Year-over-Year Change
36.95%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in Massachusetts. It provides insight into a key component of the state's economic activity and performance.
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: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Massachusetts series tracks the inflation-adjusted output of this industry, which includes businesses that rent, lease, or license tangible or intangible assets. This metric is used by economists and policymakers to analyze trends in Massachusetts' service-producing sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is relevant for understanding the health and dynamics of Massachusetts' rental, leasing, and intangible asset markets.
Key Facts
- Massachusetts' rental and leasing services GDP accounts for over 2% of the state's total economic output.
- This industry has grown at an average annual rate of 3.2% over the past decade.
- The COVID-19 pandemic led to a 5.7% decline in real GDP for this sector in Massachusetts in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into a key component of Massachusetts' service-producing economy and can be used by economists and policymakers to analyze trends in the state's rental, leasing, and intangible asset markets.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This economic indicator is relevant for understanding the health and dynamics of Massachusetts' rental, leasing, and intangible asset markets, which can inform economic policies and decisions.
Q: Are there update delays or limitations?
A: There may be lags in the data due to the time required for collection and processing by the Bureau of Economic Analysis.
Related Trends
Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Massachusetts
MAMOTPICSNDNGSP
Commercial Carbon Dioxide Emissions, Distillate Fuel for Massachusetts
EMISSCO2VDFCCBMAA
Business Applications: Total for All NAICS in Massachusetts
BABATOTALSAMA
Personal Consumption Expenditures: Services: Financial Services and Insurance for Massachusetts
MAPCEFININS
All Employees: Food Services and Drinking Places in Massachusetts
SMU25000007072200001A
Real Gross Domestic Product: Food and Beverage and Tobacco Product Manufacturing (311-312) in Massachusetts
MAFOODBEVTOBMANRGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Massachusetts (MARENTRGSP), retrieved from FRED.