Real Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Maine
MEPROBUSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,702.10
Year-over-Year Change
14.45%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the professional, scientific, and technical services industry in the state of Maine. It is an important indicator of economic activity and productivity in 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 GDP for the professional, scientific, and technical services industry in Maine tracks the inflation-adjusted total economic output of this sector, which includes businesses providing specialized expertise in fields like law, accounting, engineering, and research. This metric helps economists and policymakers assess the overall health and growth of this important industry within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
The professional services GDP trend is used to inform economic policy and business decisions related to this industry in Maine.
Key Facts
- Maine's professional services GDP totaled $11.9 billion in 2021.
- This industry accounts for over 9% of Maine's total economic output.
- The professional services sector has grown by 18% in Maine since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the professional, scientific, and technical services industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall health and growth of Maine's professional services industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Q: How is this trend used in economic policy?
A: The professional services GDP trend is used to inform economic policy and business decisions related to this industry in Maine.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Maine (MEPROBUSRQGSP), retrieved from FRED.