Per Capita Personal Consumption Expenditures: Services: Health Care for District of Columbia
DCPCEPCHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,239.00
Year-over-Year Change
38.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures spending on health care services by residents of the District of Columbia. It is an important indicator of consumer demand and health care sector activity in the region.
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
Per Capita Personal Consumption Expenditures (PCE) track the average spending by consumers on various goods and services. The Health Care component specifically covers expenditures on medical services, prescription drugs, and other health-related products.
Methodology
The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists analyze this metric to assess the health of the District's consumer economy and monitor changes in health care utilization.
Key Facts
- Health care is the largest component of personal consumption in DC.
- Per capita health care spending in DC exceeds the national average.
- Trends in this metric can signal changes in health insurance coverage and utilization.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average per-person spending by residents of the District of Columbia on health care services, including medical care, prescription drugs, and other health-related products and services.
Q: Why is this trend relevant for users or analysts?
A: Monitoring changes in per capita health care spending provides insights into consumer demand, the health of the regional economy, and utilization patterns in the health care sector.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to assess the health of the District's consumer economy and monitor changes in health care utilization that may inform policy decisions.
Q: Are there update delays or limitations?
A: This 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, Per Capita Personal Consumption Expenditures: Services: Health Care for District of Columbia (DCPCEPCHLTHCARE), retrieved from FRED.