Real Gross Domestic Product: Health Care and Social Assistance (62) in Hawaii
Quarterly, Seasonally Adjusted Annual Rate
HIHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,517.00
Year-over-Year Change
8.66%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the quarterly, seasonally adjusted annual rate of health and social assistance gross value added in the United States. It provides insights into the economic performance and growth of the healthcare and social services sector.
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 health and social assistance sector is a key component of the U.S. economy, encompassing industries such as hospitals, nursing homes, and social assistance providers. This seasonally adjusted, annualized series helps economists and policymakers track the sector's economic output and productivity trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the national income and product accounts.
Historical Context
Monitoring this economic indicator is crucial for understanding the healthcare industry's contribution to GDP and informing related policy decisions.
Key Facts
- The health and social assistance sector accounts for over 16% of U.S. GDP.
- This series has shown steady growth in recent years, reflecting the sector's expanding role.
- Analyzing this data helps policymakers understand the healthcare industry's economic impact.
FAQs
Q: What does this economic trend measure?
A: This series measures the quarterly, seasonally adjusted annual rate of gross value added in the U.S. health and social assistance sector, which includes industries like hospitals, nursing homes, and social services.
Q: Why is this trend relevant for users or analysts?
A: Tracking the economic performance of the healthcare and social services industry is crucial for understanding its contribution to overall GDP and informing related policy decisions.
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 national income and product accounts.
Q: How is this trend used in economic policy?
A: Monitoring this indicator helps economists and policymakers assess the healthcare sector's economic impact and inform policy decisions related to healthcare funding, regulation, and workforce planning.
Q: Are there update delays or limitations?
A: There may be delays in data availability, as the series is based on quarterly economic reporting. Additionally, the data may be subject to periodic revisions by the statistical agency.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (HIHLTHSOCASSRQGSP), retrieved from FRED.