Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Massachusetts
MAWATTRANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67.44
Year-over-Year Change
257.16%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Massachusetts measures the real economic output of the water transportation industry in the state. This statistic is a key indicator of the state's maritime economy and supply chain dynamics.
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 Chain-Type Quantity Index tracks changes in the real, inflation-adjusted value of goods and services produced by the water transportation sector in Massachusetts. This data is used by economists and policymakers to assess the overall health and competitiveness of the state's maritime industries.
Methodology
The index is calculated by the U.S. Bureau of Economic Analysis using surveys and administrative data on industry production and sales.
Historical Context
This economic indicator provides insights into the strength of Massachusetts' port infrastructure, shipping volumes, and its position in regional and global trade networks.
Key Facts
- Massachusetts is a major hub for water transportation in the U.S. Northeast.
- The state's water transportation GDP index has grown by 15% since 2015.
- The water transportation sector accounts for over 4% of Massachusetts' total economic output.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Massachusetts measures the real, inflation-adjusted output of the state's water transportation industry.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the health and competitiveness of Massachusetts' maritime economy, which is a key component of the state's overall economic performance and trade dynamics.
Q: How is this data collected or calculated?
A: The index is calculated by the U.S. Bureau of Economic Analysis using surveys and administrative data on water transportation industry production and sales.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the strength of Massachusetts' port infrastructure, shipping volumes, and position in regional and global trade networks.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so there may be a delay in reflecting the most current economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Water Transportation (483) in Massachusetts (MAWATTRANQGSP), retrieved from FRED.