Real Gross Domestic Product: Ambulatory Health Care Services (621) in Idaho
IDAMBHCRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,420.30
Year-over-Year Change
100.13%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the ambulatory health care services (NAICS 621) industry in the state of Idaho. It is an important indicator of economic activity and productivity in the healthcare 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 Real Gross Domestic Product for Ambulatory Health Care Services (NAICS 621) in Idaho tracks the inflation-adjusted output of this key industry over time. It provides insights into the economic performance and growth of the state's outpatient medical care services, such as physician offices, outpatient care centers, and home health services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is used by policymakers, economists, and industry analysts to monitor the health and competitiveness of Idaho's healthcare sector.
Key Facts
- Idaho's ambulatory healthcare GDP accounts for over 3% of the state's total economic output.
- This industry has grown at an average annual rate of 2.5% over the past decade.
- Outpatient services make up the largest share of Idaho's healthcare sector GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) of the ambulatory health care services industry in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic performance and growth of Idaho's outpatient healthcare sector, which is a key part of the state's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this metric to monitor the health and competitiveness of Idaho's healthcare sector, which informs economic development strategies and public health policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Ambulatory Health Care Services (621) in Idaho (IDAMBHCRGSP), retrieved from FRED.