Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Massachusetts
MAACCOMDQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.81
Year-over-Year Change
6.34%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Massachusetts measures the real output of the accommodation and food services sector in the state. This metric is a key indicator of economic activity and consumer spending in the tourism and hospitality industries.
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) output of the accommodation and food services sector, which includes hotels, restaurants, and other hospitality businesses. Economists and policymakers monitor this index to gain insights into consumer demand, industry performance, and broader economic trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP at the state level.
Historical Context
This index provides valuable context for understanding the health of Massachusetts' service economy and consumer spending patterns.
Key Facts
- Massachusetts' accommodation and food services sector accounts for over 10% of the state's total GDP.
- The index has experienced volatility in recent years due to the impact of the COVID-19 pandemic on the travel and hospitality industries.
- Recovery in this sector is closely watched as an indicator of broader economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Massachusetts measures the real output of the accommodation and food services sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand, industry performance, and broader economic trends in Massachusetts, particularly for the tourism and hospitality sectors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology to measure real GDP at the state level.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to gain insights into the health of Massachusetts' service economy and consumer spending patterns, which can inform economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a delay in reporting compared to other economic indicators.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Massachusetts (MAACCOMDQQGSP), retrieved from FRED.