Personal Consumption Expenditures: Services: Health Care for Arizona
AZPCEHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,023.50
Year-over-Year Change
90.09%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Health Care for Arizona trend measures household spending on healthcare services in the state. It is a key indicator of economic conditions and consumer demand.
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 series tracks total personal consumption expenditures on healthcare services, including hospital care, physician and clinical services, and other professional medical services. It provides insights into consumer behavior and healthcare sector activity in Arizona.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the health of Arizona's economy and consumer market.
Key Facts
- Arizona healthcare spending totaled $141 billion in 2021.
- Health care accounts for 18% of personal consumption in Arizona.
- Per capita healthcare expenditures in Arizona are 7% above the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures household spending on healthcare services in the state of Arizona, including hospital care, physician services, and other medical care.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and the health of Arizona's healthcare sector, which is important for policymakers, businesses, and economists analyzing the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Arizona's economy and consumer market, informing decisions related to healthcare, taxes, and other economic policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Health Care for Arizona (AZPCEHLTHCARE), retrieved from FRED.