Gross Domestic Product: Ambulatory Health Care Services (621) in Illinois
ILAMBHCNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,951.40
Year-over-Year Change
52.64%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Ambulatory Health Care Services (621) in Illinois metric measures the economic output of the ambulatory healthcare sector in Illinois. This statistic is important for understanding trends in the state's healthcare industry and broader economic conditions.
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 data series tracks the real GDP, or inflation-adjusted economic output, of the ambulatory healthcare services industry in Illinois. Ambulatory healthcare includes medical practices, outpatient clinics, and other facilities that provide non-emergency care. Economists and policymakers analyze this metric to assess the healthcare sector's contribution to the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-specific GDP estimates.
Historical Context
This economic statistic is relevant for understanding the healthcare industry's role in Illinois' economy and can inform policy decisions related to healthcare infrastructure and workforce.
Key Facts
- Illinois' ambulatory healthcare GDP was $38.4 billion in 2021.
- The sector accounts for approximately 3.5% of Illinois' total economic output.
- Ambulatory healthcare GDP in Illinois has grown by 25% since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real GDP, or inflation-adjusted economic output, of the ambulatory healthcare services industry in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This statistic is important for understanding the healthcare sector's contribution to Illinois' economy and can inform policy decisions related to healthcare infrastructure and workforce.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-specific GDP estimates.
Q: How is this trend used in economic policy?
A: This economic statistic is relevant for understanding the healthcare industry's role in Illinois' economy and can inform policy decisions related to healthcare infrastructure and workforce.
Q: Are there update delays or limitations?
A: The data is updated annually by the U.S. Bureau of Economic Analysis, with a typical 1-year lag in availability.
Related Trends
All Employees: Professional and Business Services: Office Administrative Services in Illinois
SMU17000006056110001
Gross Domestic Product: Food Services and Drinking Places (722) in Illinois
ILFOODDPNGSP
Resident Population in Illinois
ILPOP
Average Weekly Earnings of Production Employees: Financial Activities in Illinois
SMU17000005500000030
Transportation Carbon Dioxide Emissions, Coal for Illinois
EMISSCO2TOTVTCCOILA
Personal Consumption Expenditures: Services: Transportation Services for Illinois
ILPCETRANS
Citation
U.S. Federal Reserve, Gross Domestic Product: Ambulatory Health Care Services (621) in Illinois (ILAMBHCNGSP), retrieved from FRED.