Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Hawaii
HIHLTHSOCASSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.31
Year-over-Year Change
8.66%
Date Range
1/1/2005 - 1/1/2025
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 trend is a key indicator of economic activity and productivity in a crucial 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, adjusting for price changes over time. It is a valuable metric for analyzing the state's economic health and the performance of a major industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to account for changes in the composition of the sector.
Historical Context
Policymakers and economists closely monitor this index to gauge the strength of Hawaii's health care system and its impact on the broader economy.
Key Facts
- Health care and social assistance account for over 13% of Hawaii's GDP.
- The index has grown by an average of 2.5% annually over the past decade.
- Hawaii's health care sector is a major employer, accounting for 1 in 8 jobs statewide.
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 index is a key indicator of economic activity and productivity in a crucial sector of Hawaii's economy, providing valuable insights for policymakers, businesses, and researchers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted method to account for changes in the composition of the health care and social assistance sector.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this index to gauge the strength of Hawaii's health care system and its impact on the broader economy, informing policy decisions and economic forecasts.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, 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, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Hawaii (HIHLTHSOCASSQQGSP), retrieved from FRED.