Real Gross Domestic Product: Ambulatory Health Care Services (621) in Virginia
VAAMBHCRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,422.50
Year-over-Year Change
65.48%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the ambulatory health care services (NAICS 621) industry in Virginia. It is an important indicator of the health and growth of the state's healthcare 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: Ambulatory Health Care Services (621) in Virginia series tracks the inflation-adjusted output of ambulatory health care providers in the state. This metric is used by policymakers and analysts to gauge the productivity and economic contribution of Virginia's outpatient medical services industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes over time.
Historical Context
Trends in this metric can inform state healthcare policy, economic development initiatives, and investment decisions.
Key Facts
- Virginia's ambulatory health care services industry accounts for over $30 billion in economic output.
- Real GDP in this sector has grown by 25% over the past decade.
- Ambulatory care makes up nearly 10% of Virginia's total real GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the ambulatory health care services industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the productivity and economic contribution of Virginia's outpatient medical services sector, which is a key part of the state's healthcare industry and overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to account for price changes over time.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform state healthcare policy, economic development initiatives, and investment decisions related to Virginia's ambulatory care services industry.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Federal Reserve with typical 1-2 month publication delays.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Ambulatory Health Care Services (621) in Virginia (VAAMBHCRGSP), retrieved from FRED.