Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Colorado
COHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.98
Year-over-Year Change
52.43%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Colorado measures the real output of the healthcare and social assistance sector in the state. It is a key indicator for economists and policymakers to track the economic performance and productivity of this important industry.
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 represents the chained-dollar quantity index for the real GDP of the health care and social assistance sector in Colorado. It is used to analyze trends in the productivity and value-added output of this industry, which is a significant contributor to the state's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price deflators and GDP figures.
Historical Context
This trend is closely monitored by economists and policymakers to assess the health of Colorado's healthcare and social assistance sector and its broader macroeconomic implications.
Key Facts
- Colorado's health care and social assistance sector accounts for over 10% of the state's GDP.
- This index has grown by an average of 3% annually over the past decade.
- The sector employs over 400,000 people in Colorado, making it a major source of jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the health care and social assistance sector in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the productivity and economic performance of a key industry in Colorado's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-level price deflators and GDP figures.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists and policymakers to assess the health of Colorado's healthcare and social assistance sector and its broader macroeconomic implications.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Colorado (COHLTHSOCASSQGSP), retrieved from FRED.