Gross Domestic Product: Health Care and Social Assistance (62) in Arizona
AZHLTHSOCASSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49,483.40
Year-over-Year Change
30.07%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the health care and social assistance sector in Arizona. It provides insights into the economic performance and growth of this important industry within the state.
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 Gross Domestic Product: Health Care and Social Assistance (62) in Arizona metric tracks the total value of goods and services produced by the health care and social assistance industry in the state. This data point is useful for analyzing the economic impact and contribution of the health care sector to Arizona's overall economic activity.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
This trend is relevant for policymakers, economists, and industry analysts to understand the economic significance of the health care sector in Arizona and its role in the state's overall economic landscape.
Key Facts
- Arizona's health care and social assistance sector accounts for over 12% of the state's GDP.
- This industry has experienced steady growth in recent years, outpacing the overall state economy.
- The health care and social assistance sector is a major employer in Arizona, providing jobs for over 400,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the health care and social assistance sector in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and contribution of the health care industry to Arizona's overall economy, which is valuable for policymakers, economists, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to understand the economic significance of the health care sector in Arizona and its role in the state's overall economic landscape.
Q: Are there update delays or limitations?
A: The data is subject to regular updates from the U.S. Bureau of Economic Analysis, but there may be some delays in the reporting of the most recent figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Health Care and Social Assistance (62) in Arizona (AZHLTHSOCASSNQGSP), retrieved from FRED.