Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Alabama
ALHLTHSOCASSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.44
Year-over-Year Change
13.34%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Alabama measures the inflation-adjusted output of the health care and social assistance industry in the state. This metric is crucial for economists and policymakers to understand industry-level economic activity and trends.
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 represents the real, inflation-adjusted value of goods and services produced by the health care and social assistance sector in Alabama. It is used to analyze the contribution of this industry to the state's overall economic growth and productivity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
This metric provides important context for evaluating the health of Alabama's health care and social services markets.
Key Facts
- The index has a base year of 2012.
- Health care and social assistance account for over 10% of Alabama's GDP.
- The index has grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the health care and social assistance industry in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the performance and economic contribution of a key industry in Alabama.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: This index is used by economists, policymakers, and industry analysts to evaluate the health and growth of Alabama's health care and social services markets.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Alabama (ALHLTHSOCASSQQGSP), retrieved from FRED.