Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Massachusetts
MAFURNMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
258.10
Year-over-Year Change
-25.66%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the furniture and related product manufacturing industry in Massachusetts. It provides insights into the production and economic output 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 Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Massachusetts series tracks the inflation-adjusted economic output of this industry within the state. It is a valuable indicator of manufacturing activity and can inform economic analysis and policymaking.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the health and competitiveness of Massachusetts' manufacturing base and its contribution to the overall state economy.
Key Facts
- Massachusetts is a major furniture manufacturing hub.
- This industry accounts for over $2 billion in annual economic output.
- Furniture manufacturing jobs make up 2% of the state's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the furniture and related product manufacturing industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the production and economic performance of a key manufacturing sector in Massachusetts, which can inform economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the health and competitiveness of Massachusetts' manufacturing base and its contribution to the overall state economy, which can inform economic policy and decision-making.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the Bureau of Economic Analysis, but may be subject to revision and can lag current economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Massachusetts (MAFURNMANRGSP), retrieved from FRED.