Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Arizona
AZEDHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.86
Year-over-Year Change
59.08%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Arizona measures the inflation-adjusted output of these key sectors in 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
This index tracks changes in the real (inflation-adjusted) value of economic production in Arizona's education, healthcare, and social assistance industries. It is used by policymakers and analysts to understand trends in these vital service sectors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to measure real GDP.
Historical Context
This index provides important insights into the performance and growth of Arizona's service economy.
Key Facts
- The index uses 2012 as the base year.
- Arizona's education, healthcare, and social assistance sectors account for over 20% of the state's GDP.
- The index can signal shifts in consumer demand, labor shortages, or productivity changes in these service industries.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output of Arizona's education, healthcare, and social assistance sectors, providing a gauge of real economic activity in these vital service industries.
Q: Why is this trend relevant for users or analysts?
A: This index offers important insights into the performance and growth of key service sectors in Arizona's economy, which can inform policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to measure real GDP.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to understand trends in Arizona's service economy, which can inform decisions related to funding, regulations, and economic development in these vital sectors.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a reporting period and the release of the latest index data.
Related Trends
All Employees: Professional and Business Services in Arizona
AZPBSVN
All Employees: Education and Health Services: Ambulatory Health Care Services in Arizona
SMU04000006562100001SA
Imports of Goods: Manufactured Commodities for Arizona
IMPMANAZ
Average Hourly Earnings of All Employees: Professional and Business Services in Arizona
SMU04000006000000003
Chain-Type Quantity Index for Real GDP: Oil and Gas Extraction (211) in Arizona
AZOILGASQGSP
All Employees: Wholesale Trade in Arizona
SMU04000004100000001A
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Arizona (AZEDHLTHSOCASSQGSP), retrieved from FRED.