Real Gross Domestic Product: Construction (23) in Massachusetts
MACONSTRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,294.30
Year-over-Year Change
-6.70%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real (inflation-adjusted) gross domestic product (GDP) of the construction industry in Massachusetts. It is a key indicator of the state's economic activity and construction sector performance.
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: Construction (23) in Massachusetts series tracks the inflation-adjusted value-added by the construction industry to the state's overall economic output. It provides insight into the health and productivity of the construction sector, which is an important driver of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and econometric modeling.
Historical Context
This trend is closely monitored by policymakers, businesses, and analysts to assess the strength of the Massachusetts economy and guide investment and regulatory decisions.
Key Facts
- Construction is a major component of Massachusetts' GDP.
- The construction sector employs over 160,000 workers in the state.
- Real construction GDP in MA has grown by 20% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) contribution of the construction industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: The construction sector is a key driver of economic activity, so this trend provides valuable insights into the health and performance of the Massachusetts 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 surveys and econometric modeling.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and analysts closely monitor this trend to assess the strength of the Massachusetts economy and guide investment, employment, and regulatory decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly 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: Construction (23) in Massachusetts (MACONSTRQGSP), retrieved from FRED.