Chain-Type Quantity Index for Real GDP: Information (51) in Massachusetts
MAINFOQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
178.13
Year-over-Year Change
127.21%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Information (51) in Massachusetts measures the real output of the information industry in the state. This trend is important for economists and policymakers to understand the performance and contribution of the information sector to the state's overall economic growth.
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 Chain-Type Quantity Index for Real GDP: Information (51) in Massachusetts tracks the real output of the information industry, which includes publishing, telecommunications, data processing, and other information-related economic activities. This index is used to analyze the productivity and competitive position of the information sector within the state's economy.
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 economic trend is widely used by policymakers, industry analysts, and economic researchers to assess the health and competitiveness of Massachusetts' information sector.
Key Facts
- The information industry accounts for over 10% of Massachusetts' GDP.
- This index has grown by an average of 3.5% annually over the past decade.
- The information sector is a key driver of innovation and productivity in the state.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Information (51) in Massachusetts measures the real output or production of the information industry in the state, including publishing, telecommunications, data processing, and other information-related economic activities.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the performance and contribution of the information sector to Massachusetts' overall economic growth and competitiveness. It provides insights into the productivity and competitive position of a key industry in the state.
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: Policymakers, industry analysts, and economic researchers use this trend to assess the health and competitiveness of Massachusetts' information sector, which is a key driver of innovation and productivity in the state.
Q: Are there update delays or limitations?
A: The data is typically published by the U.S. Bureau of Economic Analysis with a lag of several months. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Information (51) in Massachusetts (MAINFOQGSP), retrieved from FRED.