Gross Domestic Product: Health Care and Social Assistance (62) in Arkansas
ARHLTHSOCASSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,948.50
Year-over-Year Change
25.57%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the health care and social assistance sector in Arkansas. It provides insights into the economic importance and performance of this key industry within 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
The Gross Domestic Product: Health Care and Social Assistance (62) in Arkansas series tracks the total economic output of the health care and social assistance industry in the state. This data is used by economists, policymakers, and industry analysts to assess the health and growth of this vital sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This economic indicator is relevant for understanding the health and competitiveness of Arkansas's health care industry and its contribution to the overall state economy.
Key Facts
- Arkansas's health care and social assistance sector accounts for over 13% of the state's total GDP.
- This industry has seen steady growth, expanding by 4.2% annually over the past 5 years.
- The health care and social assistance sector is the third-largest contributor to Arkansas's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total gross domestic product (GDP) generated by the health care and social assistance industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the economic importance and performance of Arkansas's health care sector, 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 standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this data to monitor the health and competitiveness of Arkansas's health care sector and inform decisions related to economic development, workforce planning, and public health initiatives.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Health Care and Social Assistance (62) in Arkansas (ARHLTHSOCASSNQGSP), retrieved from FRED.