Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Hawaii
HIEDHLTHSOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,966.40
Year-over-Year Change
76.82%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the gross domestic product (GDP) of the educational services, health care, and social assistance sectors in Hawaii. It provides insights into the economic performance and importance of these key industries 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
The Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Hawaii metric tracks the total economic output generated by these sectors, which are major contributors to Hawaii's economy. Economists and policymakers analyze this data to understand economic trends and guide policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic indicator is widely used by government agencies, researchers, and businesses to inform policy, investment, and strategic decisions.
Key Facts
- Hawaii's educational services, health care, and social assistance sectors account for over 20% of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the importance of these industries to Hawaii's economy.
- The COVID-19 pandemic had a significant impact on these sectors, leading to a temporary decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the educational services, health care, and social assistance sectors in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the economic performance and importance of these key industries in Hawaii, which are crucial for understanding the state's overall economic health and guiding policy decisions.
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: This economic indicator is widely used by government agencies, researchers, and businesses to inform policy, investment, and strategic decisions related to the educational services, health care, and social assistance sectors in Hawaii.
Q: Are there update delays or limitations?
A: The data is subject to the standard update schedule and potential revisions by the U.S. Bureau of Economic Analysis, which may result in minor delays or changes to the reported figures.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Hawaii (HIEDHLTHSOCASSNGSP), retrieved from FRED.