Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Massachusetts
MATEXTQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74.62
Year-over-Year Change
-8.18%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Massachusetts measures the inflation-adjusted output of the textile industry in the state. This metric is used by economists to assess the health and productivity of this key manufacturing sector.
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 tracks the real, or inflation-adjusted, quantity of goods produced by textile mills and textile product mills in Massachusetts. It provides a gauge of the overall activity and performance of this industry, which has historically been an important part of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using deflated shipment values.
Historical Context
Policymakers and industry analysts monitor this trend to understand broader manufacturing and trade dynamics in Massachusetts.
Key Facts
- Massachusetts is a major textile producing state.
- Textile production has declined over recent decades.
- The index uses 2012 as the base year.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of textile mills and textile product mills in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and productivity of an important manufacturing sector in Massachusetts, which is useful for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using deflated shipment values.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this index to understand broader manufacturing and trade dynamics in Massachusetts.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve and is subject to standard statistical reporting timelines.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Textile Mills and Textile Product Mills (313-314) in Massachusetts (MATEXTQGSP), retrieved from FRED.