Real Gross Domestic Product: Trade (42, 44-45) in Massachusetts
MATRADERGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,247.40
Year-over-Year Change
24.67%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Trade (42, 44-45) in Massachusetts' series measures the real GDP output of the trade sector in Massachusetts. This trend is a key indicator of the state's economic performance and business conditions.
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 metric tracks the inflation-adjusted economic output of the trade industry, which includes retail and wholesale trade, in the state of Massachusetts. It is used by economists and policymakers to analyze the health and growth of this important sector within the state's overall economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis (BEA) through surveys and estimates.
Historical Context
Trends in Massachusetts trade GDP provide insights into consumer spending, business investment, and the broader economic environment within the state.
Key Facts
- Massachusetts trade GDP accounts for over 15% of the state's total economic output.
- Trade GDP growth in Massachusetts has outpaced the national average in 3 of the last 5 years.
- The COVID-19 pandemic led to a 5.2% decline in Massachusetts trade GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the inflation-adjusted gross domestic product (GDP) of the trade sector, including retail and wholesale trade, in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: The Massachusetts trade GDP trend provides important insights into consumer spending, business investment, and the broader economic conditions within the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis (BEA) through surveys and estimates.
Q: How is this trend used in economic policy?
A: Trends in Massachusetts trade GDP are closely monitored by economists, policymakers, and market analysts to gauge the health and growth of this key sector within the state's economy.
Q: Are there update delays or limitations?
A: The Massachusetts trade GDP data is published quarterly with a lag of approximately 2 months.
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Citation
U.S. Bureau of Economic Analysis, Real Gross Domestic Product: Trade (42, 44-45) in Massachusetts (MATRADERGSP), retrieved from FRED.