Gross Domestic Product: Educational Services (61) in Massachusetts
MAEDCATNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,654.40
Year-over-Year Change
15.55%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product (GDP) for the Educational Services (61) industry in Massachusetts measures the total economic output of this sector within the state. It is a key indicator for understanding the size and growth of this important component of the Massachusetts economy.
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 for Educational Services (61) in Massachusetts represents the total value of goods and services produced by this industry, which includes both public and private education providers. This data is useful for economists and policymakers to analyze the economic trends and competitiveness of the education sector in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
This GDP metric is used to inform education policy decisions and evaluate the economic impact of the education industry in Massachusetts.
Key Facts
- Massachusetts has a large education sector, contributing significantly to the state's economy.
- The GDP for Educational Services has grown steadily in Massachusetts over the past decade.
- The education industry is a major employer in the state, providing jobs for teachers, administrators, and support staff.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total Gross Domestic Product (GDP) for the Educational Services (61) industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This GDP metric is important for understanding the size, growth, and economic impact of the education sector in Massachusetts, which is a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This GDP data is used by policymakers and economists to inform education policy decisions and evaluate the overall economic contribution of the education industry in Massachusetts.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, but there may be some delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Educational Services (61) in Massachusetts (MAEDCATNQGSP), retrieved from FRED.