Real Gross Domestic Product: Health Care and Social Assistance (62) in North Carolina
NCHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47,657.20
Year-over-Year Change
52.59%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the health care and social assistance industry in North Carolina. It provides insights into the performance and contribution of this key sector to the state's overall economic output.
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: Health Care and Social Assistance (62) in North Carolina metric tracks the inflation-adjusted value added by businesses in the health care and social assistance industry to the state's GDP. This data is used by economists and policymakers to analyze the economic significance of the health care sector and its role in North Carolina's economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the health of North Carolina's economy and can inform policy decisions related to the health care industry.
Key Facts
- North Carolina's health care and social assistance industry accounts for over 15% of the state's GDP.
- This sector has experienced steady growth, outpacing the state's overall economic performance.
- The health care industry is a major employer in North Carolina, providing jobs for over 500,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) contribution of the health care and social assistance industry in North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic significance and performance of the health care sector in North Carolina, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to the health care industry, as it provides valuable insights into the sector's contribution to North Carolina's overall economic growth and development.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in North Carolina (NCHLTHSOCASSRGSP), retrieved from FRED.