Per Capita Personal Consumption Expenditures: Services: Health Care for Minnesota
MNPCEPCHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,839.00
Year-over-Year Change
50.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on health care services in Minnesota. It provides insights into consumer spending patterns and the state's healthcare industry.
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 Minnesota tracks consumer spending on healthcare services in the state, such as hospital visits, doctor appointments, and prescription drugs. This metric is used by economists and policymakers to analyze healthcare consumption and its economic impact.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reports.
Historical Context
This trend is relevant for understanding the state's healthcare sector, consumer behavior, and the overall economic conditions in Minnesota.
Key Facts
- Minnesota's per capita healthcare spending was $8,212 in 2021.
- Healthcare services account for over 15% of total consumer spending in Minnesota.
- Healthcare spending in Minnesota has grown by 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on healthcare services in the state of Minnesota, including spending on hospital visits, doctor appointments, and prescription drugs.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the economic importance of the healthcare industry in Minnesota, which is valuable for understanding the state's economy and making informed policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reports.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and healthcare industry stakeholders to analyze consumer behavior, assess the economic impact of the healthcare sector, and inform policy decisions related to healthcare services in Minnesota.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Health Care for Minnesota (MNPCEPCHLTHCARE), retrieved from FRED.