Per Capita Personal Consumption Expenditures: Services: Health Care for Pennsylvania
PAPCEPCHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,609.00
Year-over-Year Change
49.72%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Health Care for Pennsylvania' series measures the average per-person spending on health care services in Pennsylvania. This metric is important for analyzing state-level healthcare consumption patterns and informing policymaking.
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 economic indicator tracks the average dollar amount spent per person on health care services like doctor visits, hospital stays, and other medical expenses in the state of Pennsylvania. It provides insight into healthcare utilization and consumer spending trends at the state level.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on personal consumption expenditure surveys.
Historical Context
Policymakers and market analysts use this metric to evaluate healthcare access, affordability, and utilization in Pennsylvania compared to national trends.
Key Facts
- Pennsylvania per capita health spending was $8,275 in 2021.
- Health care services account for over 15% of total personal consumption in Pennsylvania.
- Per capita health spending in Pennsylvania is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average dollar amount spent per person on health care services like doctor visits, hospital stays, and other medical expenses in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into healthcare utilization and consumer spending patterns at the state level, which is crucial for analyzing healthcare access, affordability, and policy.
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 personal consumption expenditure surveys.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to evaluate healthcare access, affordability, and utilization in Pennsylvania compared to national trends.
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, Per Capita Personal Consumption Expenditures: Services: Health Care for Pennsylvania (PAPCEPCHLTHCARE), retrieved from FRED.