Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts
MANDURMANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,036.90
Year-over-Year Change
67.68%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the nondurable goods manufacturing sector in Massachusetts. It provides insight into the economic performance and productivity of this key industry within 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
The Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts series tracks the inflation-adjusted output of industries like food, beverage, textile, apparel, paper, printing, petroleum, and chemical manufacturing. This metric is used by economists and policymakers to analyze the state's manufacturing competitiveness and industrial composition.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic census information.
Historical Context
Trends in nondurable manufacturing GDP are closely monitored for their implications on employment, trade, and overall state economic health.
Key Facts
- Massachusetts is a major hub for nondurable goods manufacturing.
- This sector accounts for over 10% of the state's total economic output.
- Real nondurable manufacturing GDP has grown by 25% in Massachusetts since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the nondurable goods manufacturing sector in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: Tracking nondurable manufacturing GDP provides insight into the productivity and competitiveness of a key industry within the Massachusetts economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using surveys and economic census information.
Q: How is this trend used in economic policy?
A: Nondurable manufacturing GDP trends are monitored by economists and policymakers to assess the state's industrial composition and overall economic health.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts (MANDURMANRGSP), retrieved from FRED.