Real Gross Domestic Product: Management of Companies and Enterprises (55) in Maine
MEMNGCOENTPRRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,843.90
Year-over-Year Change
20.44%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product (GDP): Management of Companies and Enterprises (55) in Maine measures the inflation-adjusted economic output of the management sector in the state. This metric is a key indicator of Maine's business activity and productivity.
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 GDP: Management of Companies and Enterprises (55) in Maine tracks the value-added output of establishments primarily engaged in managing companies and enterprises, such as holding companies and corporate, subsidiary, and regional managing offices. This data provides insights into the health and growth of Maine's management industry.
Methodology
The U.S. Bureau of Economic Analysis calculates this metric using surveys and models to estimate the real output of the management sector in Maine.
Historical Context
Policymakers and economists use this trend to assess the performance and contribution of Maine's management industry to the state's overall economic growth.
Key Facts
- Maine's management sector accounted for 2.6% of the state's total GDP in 2021.
- The real GDP of Maine's management industry grew by 4.1% in 2021.
- The management industry is the 5th largest sector in Maine's economy.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Management of Companies and Enterprises (55) in Maine measures the inflation-adjusted economic output of the management sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the performance and contribution of Maine's management industry to the state's overall economic growth, which is valuable information for policymakers and economists.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this metric using surveys and models to estimate the real output of the management sector in Maine.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the performance and contribution of Maine's management industry, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Management of Companies and Enterprises (55) in Maine (MEMNGCOENTPRRQGSP), retrieved from FRED.