Real Gross Domestic Product: Health Care and Social Assistance (62) in Maine
MEHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,942.40
Year-over-Year Change
6.73%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) contribution of the health care and social assistance sector in the state of Maine. It provides important insights into the size and growth of this key industry 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: Health Care and Social Assistance (62) in Maine series represents the inflation-adjusted value-added output of the health care and social assistance industry in the state. This metric is used by economists and policymakers to analyze the role of the health sector in Maine's economic performance and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry-level GDP estimates.
Historical Context
This economic indicator helps inform policy decisions and business strategies related to the health care industry in Maine.
Key Facts
- Maine's health care and social assistance sector accounts for over 15% of the state's GDP.
- This industry has experienced steady growth in Maine over the past decade.
- The health care sector is a major employer in the state, accounting for over 100,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product contribution of the health care and social assistance industry in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the size, growth, and economic importance of the health care sector in Maine, which is a key industry for the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This indicator helps inform policy decisions and business strategies related to the health care industry in Maine.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Maine (MEHLTHSOCASSRQGSP), retrieved from FRED.