Real Gross Domestic Product: Health Care and Social Assistance (62) in Mississippi
MSHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,012.10
Year-over-Year Change
22.82%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real (inflation-adjusted) gross domestic product of the health care and social assistance industry in Mississippi. It provides insight into the economic importance and performance of this key sector.
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 GDP for the health care and social assistance industry in Mississippi reflects the overall economic output and productivity of this sector. It is used by economists and policymakers to analyze the strength and contribution of this industry to the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Historical Context
This trend is relevant for understanding the health of Mississippi's economy and the role of the health care industry in driving economic growth.
Key Facts
- Health care and social assistance account for over 15% of Mississippi's GDP.
- This sector has experienced steady growth in recent years.
- The COVID-19 pandemic had a significant impact on the industry's performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the health care and social assistance industry in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic importance and performance of a key industry in Mississippi, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the strength and contribution of the health care industry to Mississippi's economy, which can inform decisions on economic development, public health, and social services.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for delays due to the comprehensive nature of the data collection and analysis process.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Mississippi (MSHLTHSOCASSRGSP), retrieved from FRED.