Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Massachusetts
MAFRBCIRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,329.50
Year-over-Year Change
-27.47%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the monetary authorities-central bank, credit intermediation, and related services industry in Massachusetts. It provides insights into the economic performance and productivity of this key 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 real GDP series for the monetary authorities-central bank, credit intermediation, and related services industry in Massachusetts offers a data-driven perspective on the economic contribution and trends within this important financial services sector. Economists and policymakers use this information to understand industry-level growth and its implications for the broader state economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using established national accounting principles.
Historical Context
This trend is relevant for monitoring the health and dynamics of Massachusetts' financial services industry, which is a significant driver of the state's economic activity.
Key Facts
- Massachusetts' financial services sector accounts for over 10% of the state's GDP.
- This industry has experienced steady growth over the past decade.
- The COVID-19 pandemic temporarily disrupted the sector's performance in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the monetary authorities-central bank, credit intermediation, and related services industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and productivity of a key financial services sector in Massachusetts, which is important for understanding the state's overall economic dynamics.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the health and growth of Massachusetts' financial services industry, which is a significant driver of the state's economic activity.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Federal Reserve, but there may be occasional delays or revisions due to the nature of economic data collection and reporting.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Massachusetts (MAFRBCIRGSP), retrieved from FRED.