Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in North Dakota
NDAMBHCQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.50
Year-over-Year Change
83.11%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in North Dakota measures the real output of the ambulatory healthcare sector in the state. This metric is crucial for economists and policymakers to assess the health of North Dakota's healthcare industry and its contribution to overall 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
This index tracks the quantity of goods and services produced by North Dakota's ambulatory healthcare providers, adjusted for inflation. It is a key indicator of the sector's productivity and an important component of the state's real GDP calculation.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of healthcare providers.
Historical Context
Policymakers and analysts use this index to monitor the healthcare industry's performance and its impact on the broader North Dakota economy.
Key Facts
- The index has a base year of 2012.
- North Dakota's ambulatory healthcare sector accounts for a significant portion of the state's GDP.
- The index can signal changes in healthcare demand, costs, and technological innovation.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or quantity, of goods and services produced by North Dakota's ambulatory healthcare providers, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the health and productivity of North Dakota's healthcare industry, which is a key component of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of healthcare providers in North Dakota.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor the healthcare industry's performance and its impact on the broader North Dakota economy, informing decisions related to healthcare, economic, and fiscal policies.
Q: Are there update delays or limitations?
A: The index data is published quarterly, with a typical delay of several months. Users should be aware of this delay when interpreting the most recent data.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Ambulatory Health Care Services (621) in North Dakota (NDAMBHCQGSP), retrieved from FRED.