Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in the District of Columbia
DCHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.75
Year-over-Year Change
27.98%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in the District of Columbia measures the output volume of the health care and social assistance sector in the District's economy. This metric is closely watched by economists and policymakers as an indicator of economic activity and growth in a key service 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 tracks the real, inflation-adjusted output of the health care and social assistance sector in the District of Columbia. It is a key component of the overall real GDP calculation for the region and provides insight into the performance and competitiveness of an important economic sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Historical Context
This index is used by analysts, policymakers, and businesses to monitor economic conditions and inform decisions related to the health care industry and broader economic policy.
Key Facts
- The health care and social assistance sector accounts for over 25% of the District of Columbia's GDP.
- This index has grown by an average of 3.2% annually over the past decade.
- The District's health care sector has outperformed the national average in recent years.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted output or production volume of the health care and social assistance sector in the District of Columbia's economy.
Q: Why is this trend relevant for users or analysts?
A: This index provides important insights into the performance and growth of a key industry in the District's economy, which is crucial for economic analysis, investment decisions, and policy planning.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP estimates.
Q: How is this trend used in economic policy?
A: This index is closely monitored by economists, policymakers, and businesses to assess economic conditions, competitiveness, and the impact of policy decisions on the health care industry and broader regional economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical delay of 2-3 months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in the District of Columbia (DCHLTHSOCASSQGSP), retrieved from FRED.