Real Gross Domestic Product: Military in Massachusetts
MAGOVFEDMILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,215.40
Year-over-Year Change
-19.39%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Real Gross Domestic Product: Military in Massachusetts' trend measures the real output of the military sector in the Massachusetts economy. This metric is important for understanding the economic impact of the military presence in the state.
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
This series represents the real dollar value of goods and services produced by the military industry in Massachusetts, adjusted for inflation. It provides a measure of the economic activity and contribution of the military to the overall state economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and economists analyze this trend to gauge the importance of the military industry in Massachusetts and how changes may impact the state's economic performance.
Key Facts
- Massachusetts has a large military presence, including several major bases.
- The military sector accounts for a significant portion of the state's economy.
- Real military GDP in Massachusetts has fluctuated over time.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) value of goods and services produced by the military industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the economic impact of the military presence in Massachusetts and how changes in military activity may affect the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to gauge the importance of the military industry in Massachusetts and how changes may impact the state's economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as other economic indicators published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Military in Massachusetts (MAGOVFEDMILRGSP), retrieved from FRED.