Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Idaho
IDEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,946.70
Year-over-Year Change
81.77%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the educational services, health care, and social assistance sectors in the state of Idaho. It provides valuable insights into the performance and growth of these crucial service industries within the state's economy.
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: Educational Services, Health Care, and Social Assistance (61, 62) in Idaho trend represents the inflation-adjusted economic output of these service sectors in the state. It is an important indicator for policymakers, analysts, and businesses to understand the relative strength and contribution of these industries to Idaho's overall economic development.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using established national accounting principles.
Historical Context
This trend is widely used by economists, policymakers, and industry stakeholders to inform economic policy decisions and investment strategies.
Key Facts
- Idaho's educational, healthcare, and social assistance sectors account for over 20% of the state's GDP.
- This trend has shown steady growth over the past decade, outpacing the national average.
- The healthcare industry is the largest component of this trend, comprising nearly two-thirds of the total.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the educational services, health care, and social assistance sectors in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and growth of these crucial service industries within Idaho's economy, which are important for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and industry stakeholders to inform economic policy decisions and investment strategies in Idaho.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, but may have a short delay compared to some other economic indicators.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Idaho (IDEDHLTHSOCASSRGSP), retrieved from FRED.