Chain-Type Quantity Index for Real GDP: Construction (23) in Massachusetts
Annual, Not Seasonally Adjusted
MACONSTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.56
Year-over-Year Change
22.84%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the value of gross state product (GSP) for the manufacturing sector in the United States. This metric is crucial for understanding the health and performance of the U.S. manufacturing industry across different states.
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
Gross state product (GSP) is the value of all goods and services produced within a state's economy. The manufacturing GSP trend specifically tracks the economic output of the manufacturing sector for each U.S. state on an annual basis, without adjusting for seasonal variations.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using surveys and economic accounts.
Historical Context
Analysts and policymakers use this trend to gauge regional manufacturing activity and its contribution to overall state economic performance.
Key Facts
- The manufacturing sector accounts for over 11% of U.S. gross domestic product.
- Texas had the highest manufacturing GSP of any state in 2021 at $315 billion.
- California's manufacturing GSP was the second-highest at $310 billion in 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the gross state product (GSP) of the manufacturing sector for each U.S. state on an annual basis, without adjusting for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the health and performance of the U.S. manufacturing industry across different states, which is a key driver of overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using surveys and economic accounts.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to gauge regional manufacturing activity and its contribution to overall state economic performance, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The annual data is typically released with a lag of several months, and may not capture the most recent economic conditions.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MACONSTQGSP), retrieved from FRED.