Gross Domestic Product: Truck Transportation (484) in Massachusetts
MATRUCKTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,725.90
Year-over-Year Change
88.96%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Truck Transportation (484) in Massachusetts series measures the economic output of the truck transportation industry in the state. This data is crucial for understanding regional economic trends and assessing the health of the transportation sector.
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 tracks the total value added by the truck transportation industry to Massachusetts' GDP. It provides insight into the productivity and economic contribution of this key logistics and supply chain component.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry surveys and economic models.
Historical Context
Policymakers and industry analysts monitor this metric to gauge the strength of Massachusetts' transportation infrastructure and supply chain competitiveness.
Key Facts
- Massachusetts' truck transportation GDP was $12.7 billion in 2021.
- The industry accounts for 1.8% of the state's total economic output.
- Truck transportation GDP has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures the total economic output or value added by the truck transportation industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the health and productivity of a crucial component of Massachusetts' transportation infrastructure and supply chain.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this metric to gauge the strength of Massachusetts' transportation infrastructure and supply chain competitiveness.
Q: Are there update delays or limitations?
A: The data is published with a lag of several quarters, and may be subject to revisions as more information becomes available.
Related Trends
Real Gross Domestic Product: Textile Mills and Textile Product Mills (313-314) in Massachusetts
MATEXTRGSP
Chain-Type Quantity Index for Real GDP: Petroleum and Coal Products Manufacturing (324) in Massachusetts
MAPETCOALMANQGSP
Unemployment Level for Massachusetts
UNEMPLOYMA
Monthly State Retail Sales: Building Material and Garden Equipment and Supplies Dealers in Massachusetts
MSRSMA444
State Tax Collections: T53 Severance Taxes for Massachusetts
QTAXT53QTAXCAT3MANO
Chain-Type Quantity Index for Real GDP: All Industry Total in Massachusetts
MAQGSP
Citation
U.S. Federal Reserve, Gross Domestic Product: Truck Transportation (484) in Massachusetts (MATRUCKTRANNGSP), retrieved from FRED.