Gross Domestic Product: Warehousing and Storage (493) in Massachusetts
MAWARESTORNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,194.20
Year-over-Year Change
55.33%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for the Warehousing and Storage (493) industry in Massachusetts measures the total economic output of this sector. It provides insights into the productivity and growth of this important logistics industry within the state.
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 GDP for Warehousing and Storage in Massachusetts represents the total value of goods and services produced by this industry. It is a key indicator of the industry's economic performance and role in the broader state economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
Policymakers and industry analysts use this metric to understand economic trends and make informed decisions.
Key Facts
- Massachusetts is a major logistics hub on the East Coast.
- The Warehousing and Storage industry accounts for over 2% of the state's GDP.
- GDP growth in this sector has outpaced the overall state economy in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output of the Warehousing and Storage industry in Massachusetts, as part of the state's overall Gross Domestic Product.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the productivity and growth of a critical logistics sector, which is important for understanding the state's broader economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects this data through surveys and administrative records, and calculates the GDP for the Warehousing and Storage industry in Massachusetts.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to monitor the health of the logistics sector, inform economic development strategies, and make data-driven decisions.
Q: Are there update delays or limitations?
A: This data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Warehousing and Storage (493) in Massachusetts (MAWARESTORNGSP), retrieved from FRED.