Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in North Carolina
NCHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
131.24
Year-over-Year Change
52.60%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in North Carolina measures the inflation-adjusted output of the health care and social assistance sector in the state. This indicator provides insights into the performance and growth of a key economic 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
This index tracks the real, inflation-adjusted GDP contribution of the health care and social assistance sector in North Carolina. It is a valuable metric for evaluating the state's economic health and industry-specific trends within the broader context of the overall economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Policymakers and analysts use this index to assess the role of the health care sector in North Carolina's economic performance and development.
Key Facts
- North Carolina's health care and social assistance sector accounts for a significant portion of the state's GDP.
- The chain-type quantity index adjusts for inflation to provide a more accurate measure of real economic output.
- Tracking this index helps policymakers understand the dynamics of a crucial industry in the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted, real GDP contribution of the health care and social assistance sector 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 growth of a key industry within North Carolina's economy, which is important for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to assess the role of the health care sector in North Carolina's economic performance and development.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in North Carolina (NCHLTHSOCASSQGSP), retrieved from FRED.