Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Connecticut
CTEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,282.40
Year-over-Year Change
20.02%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) for the educational services, health care, and social assistance industries in the state of Connecticut. It provides insight into the economic performance and growth of these key sectors.
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: Educational Services, Health Care, and Social Assistance (61, 62) in Connecticut series tracks the inflation-adjusted economic output of these industries, which are major contributors to the state's economy. This data is used by economists and policymakers to analyze sectoral trends and inform economic development strategies.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This trend is relevant for understanding the health and trajectory of Connecticut's service-based economy and for informing policy decisions related to these vital industries.
Key Facts
- Connecticut's educational services, health care, and social assistance industries account for over 20% of the state's GDP.
- This sector has experienced steady growth in recent years, outpacing the overall state economy.
- The COVID-19 pandemic had a significant impact on this industry, leading to temporary declines in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the educational services, health care, and social assistance industries in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic performance and growth of these key service-based industries, which are major contributors to Connecticut's economy. It is used by economists and policymakers to analyze sectoral trends and inform economic development strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the health and trajectory of Connecticut's service-based economy and for informing policy decisions related to these vital industries.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as other state-level GDP figures released by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Connecticut (CTEDHLTHSOCASSRGSP), retrieved from FRED.