Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Massachusetts
MAFININSREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135,608.80
Year-over-Year Change
10.70%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in Massachusetts. It is a key indicator of the state's economic activity and performance in these crucial sectors.
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: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Massachusetts series tracks the total value of goods and services produced by these industries, adjusted for inflation. It provides insight into the health and growth of Massachusetts' financial and real estate-related economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this trend to assess the strength and dynamics of Massachusetts' service-oriented economy.
Key Facts
- Massachusetts' finance, insurance, real estate, rental, and leasing industries account for over 25% of the state's GDP.
- This sector has grown by an average of 2.5% annually over the past decade.
- The real estate and rental/leasing subsectors make up the largest share of this industry group in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and growth of Massachusetts' service-oriented economy, which is heavily dependent on these key industries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the strength and dynamics of Massachusetts' finance, insurance, and real estate sectors, which are crucial to the state's overall economic well-being.
Q: Are there update delays or limitations?
A: This data is updated quarterly by the Bureau of Economic Analysis, with occasional revisions to historical figures.
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Citation
U.S. Bureau of Economic Analysis, Real Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Massachusetts (MAFININSREALRGSP), retrieved from FRED.