Gross Domestic Product: Retail Trade (44-45) in Massachusetts
MARETAILNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36,876.90
Year-over-Year Change
19.02%
Date Range
1/1/2005 - 1/1/2025
Summary
The Gross Domestic Product: Retail Trade (44-45) in Massachusetts measures the total economic output of the retail trade sector in the state. This data is important for understanding regional economic trends and the health of the local consumer economy.
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 series represents the real gross domestic product (GDP) for the retail trade industry (North American Industry Classification System [NAICS] sectors 44-45) in the state of Massachusetts. It is a key indicator of consumer spending and the overall economic vitality of the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP estimates.
Historical Context
Retail trade GDP is used by policymakers, economists, and businesses to analyze consumer demand and the health of the local economy.
Key Facts
- Massachusetts retail GDP was $77.3 billion in 2021.
- Retail trade accounts for over 10% of Massachusetts' total economic output.
- The retail sector employs over 540,000 people in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total real gross domestic product (GDP) of the retail trade industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This retail trade GDP data is important for understanding regional economic conditions, consumer spending patterns, and the overall health of the Massachusetts economy.
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 their regional GDP estimates.
Q: How is this trend used in economic policy?
A: Retail trade GDP is used by policymakers, economists, and businesses to analyze consumer demand and the health of the local Massachusetts economy.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a quarter and the release of the regional GDP data.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Retail Trade (44-45) in Massachusetts (MARETAILNQGSP), retrieved from FRED.