Personal Consumption Expenditures: Services: Health Care for Indiana
INPCEHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70,967.50
Year-over-Year Change
88.03%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Health Care for Indiana trend measures household spending on healthcare services in the state. It is an important indicator for policymakers and analysts monitoring economic health and healthcare costs.
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 trend represents total personal consumption expenditures on healthcare services for Indiana residents. It includes spending on medical services, hospital care, and other healthcare-related goods and services. The data is used to assess consumer demand and price changes in the state's healthcare sector.
Methodology
The data is collected through surveys of consumers and healthcare providers by the U.S. Bureau of Economic Analysis.
Historical Context
Healthcare spending is a critical component of state-level economic activity and a key consideration for policymakers.
Key Facts
- Indiana healthcare spending was $71.2 billion in 2021.
- Healthcare accounts for 16.4% of Indiana's total personal consumption.
- The trend has grown at an average annual rate of 4.1% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The INPCEHLTHCARE trend measures household spending on healthcare services in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of consumer demand and price changes in Indiana's healthcare sector, which is critical for policymakers and economists analyzing the state's economic health.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumers and healthcare providers by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Healthcare spending is a key component of state-level economic activity, so policymakers use this trend to inform decisions around healthcare policy, budgeting, and regulation.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately three months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Health Care for Indiana (INPCEHLTHCARE), retrieved from FRED.