Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Massachusetts
MAFRBCINGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,056.70
Year-over-Year Change
57.98%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services industry in Massachusetts. It provides valuable insights into the performance and contribution of this key sector to the state's overall economic activity.
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 Gross Domestic Product (GDP) for Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (NAICS 521-522) in Massachusetts is a widely tracked economic indicator. It reflects the total value of goods and services produced by this industry, which includes commercial banks, credit unions, and other financial institutions within the state.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using national income and product accounts (NIPA) methodology.
Historical Context
This trend is closely monitored by policymakers, economists, and financial analysts to assess the health and growth of the financial services sector in Massachusetts.
Key Facts
- Massachusetts is a major financial hub in the United States.
- The financial services sector accounts for a significant portion of the state's GDP.
- This trend provides insights into the performance of the banking and credit intermediation industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the monetary authorities, credit intermediation, and related services industry in Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for users and analysts as it provides insights into the performance and contribution of the financial services sector to the Massachusetts economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using national income and product accounts (NIPA) methodology.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and financial analysts to assess the health and growth of the financial services sector in Massachusetts.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and revisions, as is common with many economic statistics.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Massachusetts (MAFRBCINGSP), retrieved from FRED.