Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Massachusetts
MAOTHSERVEQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92.21
Year-over-Year Change
-10.53%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Massachusetts measures the real economic output of the other services sector 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
This index provides a way to track changes in the production volume of the other services industry, which includes a wide range of economic activities beyond government and traditional enterprises. It is a valuable indicator for understanding the overall health and growth of the Massachusetts economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to adjust for inflation.
Historical Context
Policymakers and analysts use this index to gauge the performance and trends in the Massachusetts service economy.
Key Facts
- The other services sector accounts for over 10% of Massachusetts' GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The index reached an all-time high in 2021 as the service economy rebounded.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output or production volume of the other services sector in Massachusetts, excluding government and traditional business enterprises.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insight into the performance and growth of an important part of the Massachusetts economy, helping policymakers and economists assess the state's overall economic health.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted formula to adjust for inflation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the Massachusetts service economy and inform decisions related to economic development, taxation, and other policies.
Q: Are there update delays or limitations?
A: The index data is typically published with a 2-3 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Other Services (Except Government and Government Enterprises) (81) in Massachusetts (MAOTHSERVEQQGSP), retrieved from FRED.