Real Gross Domestic Product: Ambulatory Health Care Services (621) in Illinois
ILAMBHCRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,452.70
Year-over-Year Change
35.94%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) for the ambulatory health care services industry in Illinois. It provides valuable insights into the performance and growth of this crucial sector of 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 (GDP) for Ambulatory Health Care Services (NAICS 621) in Illinois tracks the inflation-adjusted economic output of this industry, which includes doctor's offices, outpatient care centers, and other ambulatory healthcare providers. This metric is used by economists and policymakers to evaluate the health and dynamics of Illinois' healthcare industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Historical Context
This trend is important for understanding the contribution of the healthcare sector to Illinois' overall economic activity and for informing policy decisions related to healthcare infrastructure and service delivery.
Key Facts
- Illinois' ambulatory healthcare services sector accounts for a significant portion of the state's GDP.
- This trend has shown steady growth over the past decade, reflecting the increasing demand for outpatient healthcare.
- The performance of this industry is closely watched by policymakers and healthcare administrators in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product (GDP) for the ambulatory health care services industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of Illinois' healthcare sector, which is a crucial part of the state's economy. It is relevant for policymakers, healthcare administrators, and economists who are interested in understanding the dynamics of the state's healthcare industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) using established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to inform decisions related to healthcare infrastructure, service delivery, and overall economic development in Illinois.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential revisions as other GDP-related statistics published by the BEA.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Ambulatory Health Care Services (621) in Illinois (ILAMBHCRGSP), retrieved from FRED.