Gross Domestic Product: Health Care and Social Assistance (62) in Maryland
Quarterly, Seasonally Adjusted Annual Rate
MDHLTHSOCASSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42,501.00
Year-over-Year Change
24.10%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the quarterly, seasonally adjusted annual rate of spending on health and social assistance in the United States. It is a key indicator of economic activity in the healthcare and social services sectors.
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 Quarterly, Seasonally Adjusted Annual Rate of Health and Social Assistance Spending captures total expenditures on these services at a national level. It is a widely tracked metric for assessing the performance and growth of the healthcare industry, which represents a significant portion of the U.S. economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys and economic modeling.
Historical Context
Policymakers and analysts use this trend to monitor the health of the healthcare sector and its influence on the broader economy.
Key Facts
- Spending on health and social assistance accounts for nearly 18% of U.S. GDP.
- This metric experienced rapid growth during the COVID-19 pandemic.
- The healthcare industry is one of the largest employers in the United States.
FAQs
Q: What does this economic trend measure?
A: This series measures the quarterly, seasonally adjusted annual rate of spending on health and social assistance services in the United States.
Q: Why is this trend relevant for users or analysts?
A: The health and social assistance sector is a major component of the U.S. economy, and this metric provides important insights into its performance and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the health of the healthcare sector and its influence on the broader economy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (MDHLTHSOCASSNQGSP), retrieved from FRED.