Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Massachusetts
MARENTNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,286.50
Year-over-Year Change
62.61%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the gross domestic product (GDP) of the rental and leasing services and lessors of nonfinancial intangible assets industry in Massachusetts. It provides insights into the performance and economic contribution of this sector 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 MARENTNGSP series represents the GDP generated by companies engaged in renting, leasing, and licensing various tangible and intangible assets in Massachusetts. This data is used by economists and policymakers to analyze the size and growth of this industry and its role in the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry statistics.
Historical Context
This trend is relevant for understanding the state of the Massachusetts rental, leasing, and licensing market and its economic impact.
Key Facts
- Massachusetts GDP from rental and leasing services was $15.2 billion in 2021.
- This industry accounts for 2.1% of the state's total GDP.
- The rental and leasing sector in Massachusetts has grown by 4.3% annually since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the rental and leasing services and lessors of nonfinancial intangible assets industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the size, growth, and economic contribution of the rental and leasing services sector in Massachusetts, which is useful for economists, policymakers, and businesses operating in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to understand the performance and role of the rental and leasing services industry in the Massachusetts economy, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be a delay of several months between the end of the reporting period and the public release of the data.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in Massachusetts (MARENTNGSP), retrieved from FRED.