Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in South Carolina
SCHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.86
Year-over-Year Change
58.44%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in South Carolina measures the economic output of the healthcare and social assistance sector in the state. This metric is crucial for policymakers and economists to assess the overall health and growth trends of South Carolina'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 Chain-Type Quantity Index tracks the real, inflation-adjusted output of the healthcare and social assistance industry in South Carolina. It provides a measure of the sector's contribution to the state's gross domestic product (GDP) and helps analyze its performance relative to other industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
This economic trend is widely used by policymakers, economists, and market analysts to understand the dynamics of South Carolina's healthcare sector and its impact on the state's overall economic landscape.
Key Facts
- The healthcare and social assistance sector accounts for over 15% of South Carolina's GDP.
- The index has grown by an average of 3.2% annually over the past decade.
- South Carolina's healthcare sector has outpaced the national average in terms of real GDP growth.
FAQs
Q: What does this economic trend measure?
A: The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in South Carolina measures the real, inflation-adjusted output of the healthcare and social assistance industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for policymakers and economists to assess the overall health and growth trends of South Carolina's economy, as the healthcare sector is a significant contributor to the state's GDP.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: This economic trend is widely used by policymakers, economists, and market analysts to understand the dynamics of South Carolina's healthcare sector and its impact on the state's overall economic landscape.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month lag, and may be subject to revisions as more complete information becomes available.
Related Trends
Interbank Deposits in Commercial Member Banks in South Carolina
X08IOMBISC
Gross Domestic Product: Broadcasting (Except Internet) and Telecommunications (515, 517) in South Carolina
SCBRDTELENGSP
Gross Domestic Product: All Industry Total in South Carolina
SCNGSP
All Employees: Government: Local Government in South Carolina
SMS45000009093000001
All Employees: Accommodation and Food Services in South Carolina
SMU45000007072000001A
Regional Price Parities: All Items for South Carolina
SCRPPALL
Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in South Carolina (SCHLTHSOCASSQGSP), retrieved from FRED.