Real Gross Domestic Product: Health Care and Social Assistance (62) in Massachusetts
MAHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,388.80
Year-over-Year Change
30.53%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the health care and social assistance industry in Massachusetts. It provides valuable insights into the performance and contribution of this critical sector to the state's economy.
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: Health Care and Social Assistance (62) in Massachusetts series tracks the inflation-adjusted output of the health care and social assistance industry within the state. This metric is used by economists and policymakers to analyze the economic health and growth of this pivotal industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is closely monitored by government officials, industry leaders, and market analysts to inform economic policy decisions and investment strategies.
Key Facts
- Massachusetts has a large and growing health care sector.
- The health care industry is a major employer and driver of economic activity in the state.
- Real GDP in the Massachusetts health care sector has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the health care and social assistance industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the economic performance and contribution of the health care sector, which is a critical industry for Massachusetts and the broader U.S. economy.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: Government officials, industry leaders, and market analysts closely monitor this trend to inform economic policy decisions and investment strategies related to the health care sector.
Q: Are there update delays or limitations?
A: The data is subject to the standard publication schedule and revision process of the U.S. Bureau of Economic Analysis, which may result in occasional update delays or minor revisions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Massachusetts (MAHLTHSOCASSRGSP), retrieved from FRED.