Real Gross Domestic Product: Health Care and Social Assistance (62) in Arkansas
ARHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,880.90
Year-over-Year Change
13.14%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) for the health care and social assistance sector in Arkansas. It provides insights into the performance and contribution of this vital industry to the state's overall economic activity.
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 Arkansas series tracks the inflation-adjusted value added by the health care and social assistance industry in Arkansas. This data is used by economists and policymakers to analyze the health of the state's economy and the role of the health care sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts methodology.
Historical Context
This trend is relevant for understanding the economic importance of the health care industry in Arkansas and its impact on the state's overall economic performance.
Key Facts
- The health care and social assistance sector accounts for over 15% of Arkansas's GDP.
- This trend has shown steady growth over the past decade, outpacing the state's overall economic expansion.
- The health care industry is a major employer in Arkansas, providing jobs for over 200,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the health care and social assistance sector 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 the health care industry in Arkansas, which is a crucial sector for 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 national income and product accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health of Arkansas's economy and the role of the health care sector, which can inform policy decisions related to industry regulation, workforce development, and economic 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 delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Arkansas (ARHLTHSOCASSRQGSP), retrieved from FRED.