Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Missouri
MOEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,686.50
Year-over-Year Change
31.76%
Date Range
1/1/1997 - 1/1/2024
Summary
The Real Gross Domestic Product (GDP) for the Educational Services, Health Care, and Social Assistance sectors in Missouri measures the total value of goods and services produced in these key industries. This trend is important for economists and policymakers to understand the economic health and growth in these vital service sectors.
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 series represents the real (inflation-adjusted) GDP for the combined Educational Services, Health Care, and Social Assistance industries in the state of Missouri. It provides a broad indicator of economic activity and productivity in these major service-providing sectors, which make up a significant portion of the state's overall economic output.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of source data on output, employment, and prices.
Historical Context
Policymakers and analysts use this trend to gauge the performance and contribution of these service industries to Missouri's economy and monitor their growth over time.
Key Facts
- Missouri's Educational, Health, and Social Assistance sectors account for over 20% of the state's GDP.
- This trend has shown steady real growth of around 2-3% annually over the past decade.
- The Health Care industry is the largest component, making up nearly two-thirds of this combined GDP measure.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product for the combined Educational Services, Health Care, and Social Assistance industries in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and growth of these key service-providing sectors, which are major contributors to Missouri's overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of source data on output, employment, and prices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to gauge the contribution of these industries to Missouri's economy and monitor their growth over time, which can inform policy decisions.
Q: Are there update delays or limitations?
A: This data is typically published on a quarterly basis, with a lag of several months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Missouri (MOEDHLTHSOCASSRGSP), retrieved from FRED.