Gross Domestic Product: Transportation and Utilities (22, 48-49) in Massachusetts
MATRANSUTILNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,814.00
Year-over-Year Change
113.53%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) of the transportation and utilities sectors in Massachusetts. It provides valuable insights into the performance and contribution of these key industries to the state's overall economic activity.
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 Gross Domestic Product: Transportation and Utilities (22, 48-49) in Massachusetts series represents the total value added by the transportation and utilities industries to the state's GDP. This metric is widely used by economists and policymakers to analyze the health and growth of these critical infrastructure sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national income and product accounting methods.
Historical Context
This trend is closely monitored by state and federal officials to inform policy decisions related to infrastructure investment, energy regulation, and economic development.
Key Facts
- Massachusetts GDP in the transportation and utilities sectors was $31.4 billion in 2021.
- The transportation and utilities industries account for 6.3% of Massachusetts' total GDP.
- This trend has shown steady growth over the past decade, reflecting the state's investments in infrastructure and energy systems.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) contribution of the transportation and utilities sectors in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic significance of two critical infrastructure industries in Massachusetts, which is valuable information for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using standard national income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal officials to inform policy decisions related to infrastructure investment, energy regulation, and economic development in Massachusetts.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, but it provides a comprehensive and reliable measure of the transportation and utilities sectors' contribution to Massachusetts' GDP.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Transportation and Utilities (22, 48-49) in Massachusetts (MATRANSUTILNGSP), retrieved from FRED.