Expenditures: Medical Services by Region: Residence in the Northeast Census Region
CXUMEDSERVSLB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,407.00
Year-over-Year Change
78.55%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures consumer expenditures on medical services for individuals residing in the Northeast Census Region of the United States. It provides valuable insights into regional healthcare consumption patterns.
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 Expenditures: Medical Services by Region: Residence in the Northeast Census Region series tracks consumer spending on medical services, such as doctor visits, hospital stays, and prescription drugs, for people living in the Northeast region of the U.S. This data is used by economists and policymakers to analyze regional variations in healthcare utilization and costs.
Methodology
The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding regional healthcare market dynamics and informing policy decisions.
Key Facts
- The Northeast Census Region includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
- In 2021, per capita medical services expenditures in the Northeast were $3,501.
- Healthcare spending can vary significantly across different regions of the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer expenditures on medical services, such as doctor visits, hospital stays, and prescription drugs, for individuals residing in the Northeast Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into regional variations in healthcare utilization and costs, which is important for economists and policymakers to understand market dynamics and inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze regional healthcare market conditions and inform policy decisions related to healthcare costs and access.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological updates of the Consumer Expenditure Survey, which may result in occasional delays or revisions.
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Citation
U.S. Federal Reserve, Expenditures: Medical Services by Region: Residence in the Northeast Census Region (CXUMEDSERVSLB1102M), retrieved from FRED.