Real Gross Domestic Product: Health Care and Social Assistance (62) in Arizona
AZHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,877.90
Year-over-Year Change
17.72%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the health care and social assistance sector in Arizona. It provides insights into the economic performance and importance of this 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 Real Gross Domestic Product: Health Care and Social Assistance (62) in Arizona series tracks the inflation-adjusted value-added output of the health care and social assistance industry in the state. This metric is a key indicator of the sector's economic contribution and can inform policy decisions related to health care infrastructure, workforce, and resource allocation.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and industry analysts use this trend to assess the health and economic impact of the health care sector in Arizona.
Key Facts
- Arizona's health care and social assistance sector accounts for over 12% of the state's GDP.
- This trend has shown steady growth, outpacing the overall state economy in recent years.
- The health care industry is a major employer in Arizona, providing jobs for over 300,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the health care and social assistance industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and importance of the health care sector within Arizona, which is critical information for policymakers, industry analysts, and economic planners.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the health and economic impact of the health care sector in Arizona, informing decisions related to infrastructure, workforce, and resource allocation.
Q: Are there update delays or limitations?
A: There may be a several month delay in the availability of this data due to the time required for collection and analysis by the Bureau of Economic Analysis.
Related Trends
Real Gross Domestic Product: Wood Product Manufacturing (321) in Arizona
AZWPMANRGSP
Average Hourly Earnings of All Employees: Private Service Providing in Arizona
SMU04000000800000003
All Employees: Administrative and Support and Waste Management and Remediation Services in Arizona
SMU04000006056000001A
Regional Price Parities: Goods for Arizona
AZRPPGOOD
All Employees: Construction: Heavy and Civil Engineering Construction in Arizona
SMU04000002023700001SA
Gross Domestic Product: State and Local in Arizona
AZGOVSLNGSP
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Arizona (AZHLTHSOCASSRQGSP), retrieved from FRED.