Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in Alabama
ALAMBHCQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
125.46
Year-over-Year Change
47.25%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in Alabama measures the volume of economic output in this industry sector for the state. This metric is crucial for economists and policymakers to analyze trends in healthcare service production 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 index tracks the real, inflation-adjusted quantity of goods and services produced by ambulatory healthcare providers in Alabama. It serves as an important indicator of the state's healthcare industry performance and can inform decisions around healthcare policy, infrastructure, and workforce planning.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Historical Context
This metric is widely used by economists, industry analysts, and policymakers to assess the healthcare sector's economic role and outlook within the state.
Key Facts
- The index is based on 2012 as the reference year.
- Alabama's ambulatory healthcare services account for over 4% of the state's total GDP.
- The index has grown by 23% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted quantity of goods and services produced by ambulatory healthcare providers in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the performance and economic contribution of Alabama's healthcare industry, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index formula.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this index to assess the healthcare sector's role and outlook within the Alabama state economy, informing decisions around healthcare policy, infrastructure, and workforce planning.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay from the reference period.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in Alabama (ALAMBHCQGSP), retrieved from FRED.