Real Gross Domestic Product: Warehousing and Storage (493) in Maine
MEWARESTORRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
182.00
Year-over-Year Change
-13.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the warehousing and storage industry in the state of Maine. It provides insight into the productivity and growth of this crucial logistics 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
The Real Gross Domestic Product: Warehousing and Storage (493) in Maine tracks the inflation-adjusted economic output of the warehousing and storage industry in the state. This metric is used by economists and policymakers to analyze the health and competitiveness of Maine's logistics infrastructure.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Trends in warehousing and storage GDP can inform infrastructure investment decisions and economic development strategies.
Key Facts
- Maine's warehousing and storage GDP accounted for 2.3% of the state's total GDP in 2021.
- This industry has grown by an average of 4.1% annually over the past decade.
- The COVID-19 pandemic caused a 5.8% decline in Maine's warehousing and storage GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the warehousing and storage industry in the state of Maine. It tracks the inflation-adjusted economic output of this logistics sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in warehousing and storage GDP provide insights into the productivity and competitiveness of Maine's logistics infrastructure, which is crucial for supporting the state's economy and trade.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform infrastructure investment decisions and economic development strategies aimed at supporting Maine's logistics and supply chain capabilities.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Warehousing and Storage (493) in Maine (MEWARESTORRGSP), retrieved from FRED.