Real Gross Domestic Product: Ambulatory Health Care Services (621) in Massachusetts
MAAMBHCRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,168.70
Year-over-Year Change
46.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the ambulatory health care services industry in Massachusetts. It provides insights into the economic performance and growth of this critical sector within the state's economy.
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: Ambulatory Health Care Services (621) in Massachusetts series tracks the inflation-adjusted output of the ambulatory health care services industry in the state. This metric is used by economists and policymakers to analyze the health and productivity of this important component of the state's service-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This trend is relevant for understanding the economic conditions and policy needs of Massachusetts' healthcare sector.
Key Facts
- The ambulatory health care services industry accounts for approximately 5% of Massachusetts' GDP.
- Real GDP in this sector has grown by an average of 3.2% annually over the past decade.
- Massachusetts ranks among the top states nationally for GDP in the ambulatory health care services industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) of the ambulatory health care services industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic performance and growth of a critical sector within Massachusetts' service-based economy, which is valuable for economists, policymakers, and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the economic conditions and policy needs of Massachusetts' healthcare sector, which is an important component of the state's economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Ambulatory Health Care Services (621) in Massachusetts (MAAMBHCRGSP), retrieved from FRED.