Per Capita Personal Consumption Expenditures: Services: Health Care for Arizona
AZPCEPCHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,943.00
Year-over-Year Change
64.83%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Health Care for Arizona' measures health care spending per person in Arizona. It is a key economic indicator for understanding consumer behavior and healthcare costs in 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
This series tracks per capita personal consumption expenditures on health care services in Arizona, including spending on medical services, pharmaceuticals, and other healthcare products. It is used by economists and policymakers to analyze trends in consumer healthcare spending and inform decisions around healthcare policy and provision.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on personal consumption expenditure surveys.
Historical Context
This metric is relevant for understanding the health of Arizona's economy and the affordability of healthcare services for consumers in the state.
Key Facts
- Arizona's per capita healthcare spending was $8,123 in 2021.
- Healthcare services account for over 15% of total personal consumption in Arizona.
- Per capita healthcare spending in Arizona has grown by 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the per capita personal consumption expenditures on healthcare services in the state of Arizona, including spending on medical services, pharmaceuticals, and other healthcare products.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding consumer behavior, healthcare affordability, and the role of the healthcare sector in Arizona's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on personal consumption expenditure surveys.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze trends in consumer healthcare spending and inform decisions around healthcare policy and provision in Arizona.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Health Care for Arizona (AZPCEPCHLTHCARE), retrieved from FRED.