Real Gross Domestic Product: Utilities (22) in Massachusetts
MAUTILRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,043.60
Year-over-Year Change
54.46%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product: Utilities (22) in Massachusetts measures the inflation-adjusted economic output of the utilities sector in the state. It is a key indicator of the health and productivity of this important industry.
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 tracks the real, price-adjusted value added by the utilities industry, which includes electric power, natural gas, and water supply companies, in the Massachusetts economy. It is a component of the broader state GDP and provides insight into a vital service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this trend to assess the performance and contributions of the utilities industry within the Massachusetts economy.
Key Facts
- Massachusetts utilities GDP reached $14.2 billion in 2021.
- Utilities account for 2.1% of total Massachusetts GDP.
- The utilities sector employs over 16,000 workers in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the utilities industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: The utilities sector is a critical component of the Massachusetts economy, providing essential services to businesses and households. Tracking its economic performance offers insights into this vital industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methodologies.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and contributions of the utilities industry within the broader Massachusetts economy, informing policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Utilities (22) in Massachusetts (MAUTILRGSP), retrieved from FRED.