Real Gross Domestic Product: Health Care and Social Assistance (62) in Alabama
ALHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,400.40
Year-over-Year Change
13.34%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) of the health care and social assistance sector in the state of Alabama. It is an important indicator for understanding the performance and contribution of this key industry within the state's economy.
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: Health Care and Social Assistance (62) in Alabama metric tracks the inflation-adjusted economic output of Alabama's health care and social assistance industry. This data provides insights into the growth, productivity, and competitiveness of this vital sector, which employs a significant portion of the state's workforce.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and national accounting methods.
Historical Context
Policymakers and industry analysts use this trend to evaluate the health and trajectory of Alabama's health care and social services industry, which is a major contributor to the state's overall economic performance.
Key Facts
- Alabama's health care and social assistance sector accounts for over 12% of the state's GDP.
- This industry has seen steady growth in recent years, outpacing the overall state economy.
- The health care and social assistance sector is one of the largest employers in Alabama, providing jobs for over 300,000 people.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the health care and social assistance industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of a key industry within Alabama's economy, which can inform policymaking and business strategy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of economic surveys and national accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to evaluate the health and trajectory of Alabama's health care and social services industry, which is a major contributor to the state's overall economic performance.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Alabama (ALHLTHSOCASSRQGSP), retrieved from FRED.