Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Hawaii
HIHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.03
Year-over-Year Change
46.78%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Hawaii measures the inflation-adjusted output of the health care and social assistance industry in the state. This metric is critical for analyzing the economic performance and productivity of a key sector.
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 index tracks the volume of goods and services produced by health care and social assistance providers in Hawaii, adjusted for price changes over time. It serves as an important indicator of industry activity and growth, which can inform policy decisions and investment strategies.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures and industry-specific price deflators.
Historical Context
Policymakers and economists monitor this index to assess the health and competitiveness of Hawaii's health care system and social services.
Key Facts
- Hawaii's health care and social assistance industry accounts for over 10% of the state's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- This metric is a leading indicator of employment and investment trends in the sector.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Hawaii measures the inflation-adjusted output of the health care and social assistance industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is critical for analyzing the economic performance and productivity of a key sector, which can inform policy decisions and investment 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 and industry-specific price deflators.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to assess the health and competitiveness of Hawaii's health care system and social services.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis with a typical 2-month lag.
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Real Gross Domestic Product: Educational Services (61) in Hawaii
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Hawaii (HIHLTHSOCASSQGSP), retrieved from FRED.