Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Arkansas
ARHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.62
Year-over-Year Change
41.50%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Arkansas measures the inflation-adjusted output of the health care and social assistance sector in the state. This metric is important for economists and policymakers to assess the health and growth of a key service industry.
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 tracks the volume of goods and services produced by the health care and social assistance sector in Arkansas, adjusted for inflation. It provides a measure of real economic activity in this vital industry, which is a major employer and service provider in the state.
Methodology
The data is calculated based on Bureau of Economic Analysis estimates of real GDP by industry.
Historical Context
Trends in this index help inform policy decisions and business strategies related to the health care sector in Arkansas.
Key Facts
- The health care and social assistance sector accounts for over 13% of Arkansas's GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- Steady growth in this index indicates the health care industry is a key economic driver in the state.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of the health care and social assistance sector in Arkansas.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the performance and growth of a vital industry in the Arkansas economy.
Q: How is this data collected or calculated?
A: The data is calculated based on Bureau of Economic Analysis estimates of real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to inform decisions and strategies related to the health care sector in Arkansas.
Q: Are there update delays or limitations?
A: This data is typically published with a 1-2 quarter delay by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Arkansas (ARHLTHSOCASSQGSP), retrieved from FRED.