Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in North Carolina
NCEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,447.00
Year-over-Year Change
47.30%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the educational services, health care, and social assistance sectors in North Carolina. It provides valuable insights into the performance and contribution of these critical industries to the state's economic growth.
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 Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in North Carolina series tracks the inflation-adjusted output of these key service sectors, which play a vital role in the state's economy. Economists and policymakers use this data to assess the economic health and productivity of these industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Historical Context
This trend is used by economists, policymakers, and industry analysts to understand the economic dynamics and policy implications of the educational, healthcare, and social assistance sectors in North Carolina.
Key Facts
- The educational services, health care, and social assistance sectors account for over 20% of North Carolina's GDP.
- This trend has shown steady growth in recent years, reflecting the importance of these industries to the state's economy.
- North Carolina is a hub for healthcare innovation and research, contributing to the state's economic strength.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the educational services, health care, and social assistance sectors in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the performance and contribution of these critical industries to North Carolina's economic growth, which is crucial for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to understand the economic dynamics and policy implications of the educational, healthcare, and social assistance sectors in North Carolina.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the data source, the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in North Carolina (NCEDHLTHSOCASSRGSP), retrieved from FRED.