Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Massachusetts
MAPLASRUBMANNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,589.10
Year-over-Year Change
24.39%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in Massachusetts. It provides insights into the performance and economic importance of this key manufacturing 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
The Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Massachusetts series tracks the total economic output of businesses engaged in the production of various plastic and rubber goods within the state. This metric is used by economists and policymakers to analyze the health and competitiveness of Massachusetts' manufacturing base.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This economic trend is relevant for understanding the strength of Massachusetts' manufacturing economy and informing state-level economic development policies.
Key Facts
- Massachusetts is a major hub for plastics and rubber manufacturing.
- This industry accounts for over 5% of the state's total GDP.
- GDP in this sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the plastics and rubber products manufacturing industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and economic importance of a key manufacturing sector in Massachusetts, which is useful for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the strength of Massachusetts' manufacturing economy and informing state-level economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in Massachusetts (MAPLASRUBMANNGSP), retrieved from FRED.