Personal Consumption Expenditures: Services: Health Care for North Dakota
NDPCEHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,688.90
Year-over-Year Change
89.37%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Services: Health Care for North Dakota' series measures health care spending by North Dakota consumers. This metric is a key indicator of economic activity and consumer well-being in the state.
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 series represents the total expenditures by North Dakota residents on health care services, including payments for hospital care, physician and clinical services, and other health care products. It is an important gauge of consumer demand and the health of the state's medical sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the Personal Consumption Expenditures (PCE) dataset.
Historical Context
Policy makers and market analysts use this metric to assess consumer health, health care industry performance, and overall economic conditions in North Dakota.
Key Facts
- Health care is the largest component of consumer spending in North Dakota.
- Health care expenditures have grown faster than overall consumer spending in the state.
- North Dakota has an aging population, contributing to rising health care costs.
FAQs
Q: What does this economic trend measure?
A: This series measures the total personal consumption expenditures on health care services by residents of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand, the performance of the health care industry, and overall economic conditions in North Dakota.
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 Personal Consumption Expenditures (PCE) dataset.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to assess consumer health, health care industry performance, and overall economic conditions in North Dakota.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Health Care for North Dakota (NDPCEHLTHCARE), retrieved from FRED.