Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts
MANDURMANRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,325.60
Year-over-Year Change
7.90%
Date Range
1/1/2005 - 1/1/2025
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 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
The Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts series tracks the inflation-adjusted value added by nondurable goods manufacturing companies in the state. This metric is used by economists and policymakers to analyze the health and competitiveness of Massachusetts' manufacturing sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the broader economic conditions and policy environment affecting Massachusetts manufacturers.
Key Facts
- Nondurable goods manufacturing contributes over 10% to Massachusetts' GDP.
- The sector employs nearly 200,000 workers in the state.
- Real GDP in this industry has grown by 3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the nondurable goods manufacturing sector in Massachusetts, covering industries like food, apparel, and chemical production.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and economic performance of a key industry in Massachusetts, which is important for understanding the state's overall economic conditions and competitiveness.
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 accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the health of Massachusetts' manufacturing sector and inform decisions around economic development, workforce training, and other policies that impact the state's industrial base.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Bureau of Economic Analysis, with a lag of approximately 3 months from the end of each reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Massachusetts (MANDURMANRQGSP), retrieved from FRED.