Gross Domestic Product: Ambulatory Health Care Services (621) in Utah
UTAMBHCNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,794.70
Year-over-Year Change
113.95%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Ambulatory Health Care Services (621) in Utah' measures the economic output of the ambulatory healthcare sector in Utah. This trend is crucial for understanding the state's healthcare industry and its contribution to the overall state 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
This series represents the gross domestic product (GDP) generated by the ambulatory healthcare services industry, which includes businesses like doctors' offices, outpatient care centers, and home healthcare services, in the state of Utah. It is an important indicator of the healthcare sector's economic performance and can inform policy decisions and investment strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
Policymakers and healthcare industry analysts use this trend to gauge the economic health and growth potential of Utah's ambulatory healthcare sector.
Key Facts
- Utah's ambulatory healthcare sector generated $7.2 billion in GDP in 2020.
- The ambulatory healthcare industry accounts for 3.7% of Utah's total GDP.
- GDP in Utah's ambulatory healthcare sector grew by 4.2% annually from 2015 to 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) generated by the ambulatory healthcare services industry in the state of Utah, including businesses like doctors' offices, outpatient care centers, and home healthcare services.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the economic performance and growth potential of Utah's healthcare sector, which can inform policy decisions, investment strategies, and assessments of the state's overall economic health.
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 surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and healthcare industry analysts use this trend to gauge the economic health and growth potential of Utah's ambulatory healthcare sector, which can inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Ambulatory Health Care Services (621) in Utah (UTAMBHCNGSP), retrieved from FRED.