Real Gross Domestic Product: Water Transportation (483) in Massachusetts
MAWATTRANRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
628.80
Year-over-Year Change
257.07%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the water transportation industry in Massachusetts. It provides insight into the economic performance and productivity of this key 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
The Real Gross Domestic Product: Water Transportation (483) in Massachusetts series represents the inflation-adjusted value added by the water transportation industry to the state's overall economic output. It is a crucial indicator for understanding the health and growth of this vital component of the Massachusetts economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting principles.
Historical Context
This trend is monitored by policymakers, economists, and industry analysts to gauge the competitiveness and outlook for Massachusetts' water transportation sector.
Key Facts
- Massachusetts is a major hub for water transportation.
- The water transportation industry is a significant contributor to the state's GDP.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the water transportation industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic contribution of the water transportation sector, which is a critical component of Massachusetts' overall economy.
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 GDP accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts monitor this trend to gauge the competitiveness and outlook for Massachusetts' water transportation sector, which informs economic development strategies and policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the U.S. Federal Reserve, with typical update delays of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Water Transportation (483) in Massachusetts (MAWATTRANRGSP), retrieved from FRED.