Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts
MANDURMANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
150.84
Year-over-Year Change
67.68%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts measures the output of the nondurable goods manufacturing sector in the state. This metric is important for economists and policymakers to assess the health and productivity of a key component of 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
This index represents the real output of Massachusetts' nondurable goods manufacturing industries, which include sectors like food, beverage, and textile production. It is a useful indicator of the state's industrial activity and can inform decisions around economic development, trade, and workforce policies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
Policymakers and analysts use this index to monitor the performance of Massachusetts' manufacturing sector and its contribution to the state's overall economic growth.
Key Facts
- Massachusetts is a leading state for nondurable goods manufacturing.
- Nondurable goods account for over 30% of the state's total manufacturing output.
- The index has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts measures the real output of the state's nondurable goods manufacturing industries.
Q: Why is this trend relevant for users or analysts?
A: This index is an important indicator of the health and productivity of a key sector of Massachusetts' economy, providing insights that can inform economic development, trade, and workforce policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the performance of Massachusetts' manufacturing sector and its contribution to the state's overall economic growth.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of about two months.
Related Trends
Total Carbon Dioxide Emissions From All Sectors, Petroleum for Massachusetts
EMISSCO2TOTVTTPEMAA
All Employees: Health Care and Social Assistance in Massachusetts
SMU25000006562000001A
Chain-Type Quantity Index for Real GDP: Administrative and Support Services (561) in Massachusetts
MAADMINSUPQGSP
Business Applications from Corporations: Total for All NAICS in Massachusetts
BACBATOTALNSAMA
Real Gross Domestic Product: Publishing Industries (Except Internet) (511) in Massachusetts
MAPUBINDRGSP
Exports of Goods: Non-Manufactured Commodities for Massachusetts
EXPNONMA
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts (MANDURMANQGSP), retrieved from FRED.