Per Capita Personal Consumption Expenditures: Services: Health Care for Illinois
ILPCEPCHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,238.00
Year-over-Year Change
62.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures personal consumption expenditures per capita for health care services in Illinois. It provides insights into consumer spending patterns and the health care industry in the state.
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
Per Capita Personal Consumption Expenditures: Services: Health Care for Illinois tracks the average amount spent by Illinois residents on health care services. This metric is used by economists and policymakers to analyze consumer demand, cost of living, and the overall health of the state's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical methods.
Historical Context
This trend is relevant for understanding the economic impact of the health care sector and consumer health spending in Illinois.
Key Facts
- Illinois residents spent an average of $8,235 on health care services in 2021.
- Health care expenditures account for about 18% of total personal consumption in Illinois.
- Per capita health care spending in Illinois is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Illinois residents on health care services, including hospital care, physician services, and other medical expenses.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into consumer spending patterns and the overall health of Illinois' economy, particularly in the health care sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and other statistical methods.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to understand the economic impact of the health care industry, consumer demand for health services, and the cost of living in Illinois.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a lag of several months. There may be limitations in accurately capturing all health care spending by Illinois residents.
Related Trends
All Employees: Durable Goods: Machinery Manufacturing in Illinois
SMU17000003133300001A
Housing Inventory: Price Reduced Count Month-Over-Month in Illinois
PRIREDCOUMMIL
Real Gross Domestic Product: Private Industries in Illinois
ILPIRGSP
All Employees: Health Care: Offices of Dentists in Illinois
SMU17000006562120001A
Number of Identified Exporters to Peru from Illinois
ILPERA475SCEN
Real Gross Domestic Product: Printing and Related Support Activities (323) in Illinois
ILPRNTRGSP
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Health Care for Illinois (ILPCEPCHLTHCARE), retrieved from FRED.