Personal Consumption Expenditures: Services: Health Care for North Carolina
NCPCEHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88,481.50
Year-over-Year Change
80.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Health Care for North Carolina measures consumer spending on healthcare services in the state. This metric is a key indicator of economic health and consumer behavior.
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 data series represents North Carolinians' total expenditures on healthcare services, including payments for hospital care, physician and clinical services, and other healthcare components. It is a valuable indicator for economists and policymakers to assess healthcare consumption patterns and their impact on the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the national Personal Consumption Expenditures program.
Historical Context
Trends in this metric can inform healthcare and economic policies at the state level.
Key Facts
- North Carolina healthcare spending was $130 billion in 2021.
- Healthcare accounts for over 15% of the state's total consumer expenditures.
- This metric has grown by an average of 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The NCPCEHLTHCARE series measures total consumer spending on healthcare services in the state of North Carolina, including hospital care, physician services, and other healthcare-related expenditures.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of the healthcare sector's contribution to North Carolina's economy and consumer behavior in the state. It helps analysts and policymakers understand healthcare consumption patterns and their economic implications.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the national Personal Consumption Expenditures program.
Q: How is this trend used in economic policy?
A: Trends in North Carolina's healthcare expenditures can inform state-level healthcare and economic policies, as well as provide insights into consumer behavior and the healthcare industry's role in the state's economy.
Q: Are there update delays or limitations?
A: The NCPCEHLTHCARE data is published quarterly with a typical release lag of 2-3 months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Health Care for North Carolina (NCPCEHLTHCARE), retrieved from FRED.