Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Arkansas
AREDHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
121.77
Year-over-Year Change
38.82%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Arkansas measures the volume of economic output in these key sectors for the state.
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 provides a way to track the real (inflation-adjusted) growth or decline in educational, healthcare, and social assistance services in Arkansas over time. It is an important indicator for understanding the state's economic composition and performance in these vital industries.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to aggregate industry-level real output.
Historical Context
Policymakers and analysts use this index to assess the economic health and productivity trends in Arkansas's education, healthcare, and social services sectors.
Key Facts
- This index uses 2012 as the base year.
- The index reached a peak of 119.96 in 2019.
- Arkansas's education, healthcare, and social assistance sectors make up over 20% of the state's GDP.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of the educational services, healthcare, and social assistance sectors in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and economic contribution of key service industries in Arkansas, which are crucial for understanding the state's economic composition and outlook.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted approach to aggregate industry-level real output.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the economic health and productivity trends in Arkansas's education, healthcare, and social services sectors, which are critical for the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve, but there may be a several-month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Arkansas (AREDHLTHSOCASSQGSP), retrieved from FRED.