Gross Domestic Product: Air Transportation (481) in Massachusetts
MAAIRTRANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,298.80
Year-over-Year Change
149.53%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the air transportation industry in Massachusetts. It provides insight into the economic activity and performance of this key sector in 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 Gross Domestic Product: Air Transportation (481) in Massachusetts series tracks the total economic output of the air transportation industry within the state. This metric is used by economists and policymakers to understand the importance and trends in this industry, which is a critical component of the overall Massachusetts economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry-level economic activity.
Historical Context
This trend is relevant for understanding the broader economic conditions and competitiveness of Massachusetts, particularly in relation to the transportation and logistics sectors.
Key Facts
- Massachusetts is a major hub for air transportation in the Northeast.
- The air transportation industry accounts for over 3% of Massachusetts' GDP.
- GDP in this sector has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the air transportation industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and importance of the air transportation sector in Massachusetts, which is a critical component of the state's overall economy.
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-level economic activity.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand the competitiveness and growth of the transportation and logistics sectors in Massachusetts, which informs economic development strategies and infrastructure investments.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Air Transportation (481) in Massachusetts (MAAIRTRANNGSP), retrieved from FRED.