Gross Domestic Product: Trade (42, 44-45) in Massachusetts
MATRADENGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,673.90
Year-over-Year Change
76.51%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Trade (42, 44-45) in Massachusetts measures the economic output of the trade sector in the state. This statistic is an important indicator of the health and performance of the 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 economic trend represents the total value added to the Massachusetts economy by the wholesale trade, retail trade, and transportation and warehousing industries. It provides insight into the state's commercial activity and trade dynamics.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using information from various state and federal sources.
Historical Context
Policymakers and economists closely monitor this trend to assess the overall strength of the Massachusetts economy and inform economic development strategies.
Key Facts
- Massachusetts is a major center of trade and commerce in the Northeast.
- The trade sector accounts for a significant portion of the state's economic activity.
- Trends in this metric help inform policy decisions and business investment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value added to the Massachusetts economy by the wholesale trade, retail trade, and transportation and warehousing industries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the overall health and performance of the Massachusetts economy, which is critical for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using information from various state and federal sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the strength of the Massachusetts economy and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Trade (42, 44-45) in Massachusetts (MATRADENGSP), retrieved from FRED.