Per Capita Personal Consumption Expenditures: Services: Health Care for South Carolina
SCPCEPCHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,244.00
Year-over-Year Change
46.55%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on health care services in South Carolina. It provides insights into consumer spending patterns and the state's health care 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 Per Capita Personal Consumption Expenditures: Services: Health Care for South Carolina trend represents the average amount spent by individuals in the state on health care services, including hospital care, physician services, and other medical expenses. This metric is widely used by economists and policymakers to analyze health care consumption and its economic impact.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is valuable for understanding the health care industry's role in the South Carolina economy and informing policy decisions.
Key Facts
- Health care accounts for a significant portion of consumer spending in South Carolina.
- The trend has shown steady growth over the past decade.
- Monitoring this metric helps policymakers assess the state's health care system and its economic impact.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by individuals in South Carolina on health care services, including hospital care, physician services, and other medical expenses.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the role of the health care sector in the South Carolina economy, which is valuable for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers to assess the state's health care system and its economic impact, informing decisions related to the health care industry and consumer spending.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and availability of information from the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Health Care for South Carolina (SCPCEPCHLTHCARE), retrieved from FRED.