Real Gross Domestic Product: Health Care and Social Assistance (62) in Montana
MTHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,203.20
Year-over-Year Change
9.72%
Date Range
1/1/2005 - 1/1/2025
Summary
This metric tracks the real gross domestic product (GDP) of the health care and social assistance industry in Montana. It provides insight into the overall economic performance and growth of this 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
The Real Gross Domestic Product: Health Care and Social Assistance (62) in Montana represents the inflation-adjusted value of goods and services produced by businesses in the health care and social assistance industry within the state. This data is used by economists and policymakers to analyze the economic health and productivity of Montana's health care sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP figures.
Historical Context
Trends in this metric can inform policy decisions and investment strategies related to Montana's health care system and social services.
Key Facts
- The health care and social assistance industry accounts for over 12% of Montana's total GDP.
- Montana's real health care GDP grew by 3.2% in 2021 compared to the prior year.
- The health care sector is the second-largest contributor to Montana's economy after agriculture.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the real (inflation-adjusted) gross domestic product of the health care and social assistance industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: Trends in Montana's health care GDP provide insight into the overall economic performance and productivity of this crucial industry, which is a major contributor to 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 using industry-level GDP figures.
Q: How is this trend used in economic policy?
A: Monitoring this metric can inform policy decisions and investment strategies related to Montana's health care system and social services.
Q: Are there update delays or limitations?
A: The data is published quarterly 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 Montana (MTHLTHSOCASSRQGSP), retrieved from FRED.