Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Massachusetts
MAFABRMETRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,124.00
Year-over-Year Change
-38.20%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real (inflation-adjusted) gross domestic product of the fabricated metal product manufacturing industry in Massachusetts. It provides insight into the economic output and productivity of this key manufacturing sector.
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 fabricated metal product manufacturing industry includes establishments that transform metal into intermediate or end products, other than machinery, computers and electronics, and metal furniture. This trend offers a valuable indicator of manufacturing activity and competitiveness in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
Policymakers and economists monitor this indicator to assess the health and competitiveness of Massachusetts' manufacturing base.
Key Facts
- Massachusetts is a top state for fabricated metal manufacturing.
- This industry employs over 40,000 workers in the state.
- Real GDP in this sector has grown 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the fabricated metal product manufacturing industry in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the economic output and competitiveness of a key manufacturing sector in the state, which is valuable for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this indicator to assess the health and competitiveness of Massachusetts' manufacturing base.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 1-2 quarters behind the current period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Fabricated Metal Product Manufacturing (332) in Massachusetts (MAFABRMETRGSP), retrieved from FRED.