Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Massachusetts
MAAPPLEATHMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
544.20
Year-over-Year Change
92.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in Massachusetts. It provides insights into the performance and contribution of this sector to the state's overall economic activity.
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 of the apparel, leather, and allied product manufacturing industry in Massachusetts is a key indicator of the production, sales, and overall economic health of this specific manufacturing segment within the state. It is used by economists, policymakers, and industry analysts to assess the competitiveness and growth potential of this industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the competitive position of Massachusetts' manufacturing sector and informing economic development policies.
Key Facts
- Massachusetts is a major hub for apparel and leather manufacturing.
- This industry accounts for a significant portion of the state's GDP.
- Trends in this sector reflect the overall competitiveness of Massachusetts' manufacturing base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the apparel, leather, and allied product manufacturing industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and economic contribution of a key manufacturing sector in Massachusetts, which is useful for understanding the state's overall economic competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend informs economic development policies and strategies aimed at supporting and enhancing the competitiveness of Massachusetts' manufacturing sector.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedules and potential revisions as other economic indicators published by the U.S. government.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Apparel, Leather, and Allied Product Manufacturing (315-316) in Massachusetts (MAAPPLEATHMANNGSP), retrieved from FRED.