Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Colorado
COEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,712.20
Year-over-Year Change
48.36%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) for the educational services, health care, and social assistance sectors in Colorado. It provides valuable insights into the performance and growth of these key industries in 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 Real Gross Domestic Product (Real GDP) for Educational Services, Health Care, and Social Assistance in Colorado is an important economic indicator that tracks the inflation-adjusted value of goods and services produced by these sectors. It helps economists and policymakers understand the contribution of these industries to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and statistical models.
Historical Context
This trend is used by economists, policymakers, and industry analysts to assess the health and growth of Colorado's education, healthcare, and social assistance sectors and their impact on the state's economy.
Key Facts
- Colorado's educational services, health care, and social assistance sectors account for over 15% of the state's GDP.
- These industries have experienced steady growth in recent years, outpacing the overall state economy.
- The healthcare sector is the largest contributor within this trend, making up nearly two-thirds of the total.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the educational services, health care, and social assistance sectors in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of these key industries in Colorado, which are important contributors to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using various economic surveys and statistical models.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the health and growth of Colorado's education, healthcare, and social assistance sectors and their impact on the state's economy.
Q: Are there update delays or limitations?
A: The data is subject to regular updates and revisions by the Bureau of Economic Analysis, and there may be some delay in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Colorado (COEDHLTHSOCASSRGSP), retrieved from FRED.