Personal Consumption Expenditures: Services: Health Care for Connecticut
CTPCEHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36,546.00
Year-over-Year Change
51.53%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Health Care for Connecticut trend measures consumer spending on healthcare services in the state of Connecticut. It is an important economic indicator for analyzing consumer behavior and healthcare industry dynamics.
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 series tracks the total expenditures by Connecticut residents on healthcare services, including hospital care, physician and clinical services, and other professional medical services. It provides insight into healthcare consumption patterns and helps assess the economic impact of the healthcare sector in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the Personal Consumption Expenditures series.
Historical Context
This trend is closely monitored by policymakers, healthcare providers, and economists to understand consumer demand and spending in the healthcare industry.
Key Facts
- Connecticut's healthcare spending accounts for a significant portion of its overall personal consumption expenditures.
- Healthcare services have historically been a growing component of consumer spending in the state.
- Monitoring this trend helps assess the economic impact of the healthcare industry in Connecticut.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services: Health Care for Connecticut trend measures consumer spending on healthcare services in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into healthcare consumption patterns and helps assess the economic impact of the healthcare sector in Connecticut, which is crucial for policymakers, healthcare providers, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the Personal Consumption Expenditures series.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, healthcare providers, and economists to understand consumer demand and spending in the healthcare industry, which informs policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data is released by the U.S. Bureau of Economic Analysis on a regular schedule, but there may be delays or limitations in the reporting of the most recent data.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Health Care for Connecticut (CTPCEHLTHCARE), retrieved from FRED.