Gross Domestic Product: Ambulatory Health Care Services (621) in Rhode Island
RIAMBHCNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,315.40
Year-over-Year Change
64.96%
Date Range
1/1/1997 - 1/1/2023
Summary
The Gross Domestic Product: Ambulatory Health Care Services (621) in Rhode Island measures the economic output of the ambulatory healthcare sector in the state. This metric is important for analyzing healthcare industry trends and the overall health of Rhode Island's economy.
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 economic series tracks the gross domestic product (GDP) contribution of the ambulatory healthcare services industry in Rhode Island. Ambulatory healthcare encompasses outpatient medical services such as physician offices, outpatient clinics, and diagnostic laboratories. This metric provides insight into the economic performance and growth of a key service sector in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Policymakers and healthcare industry analysts use this metric to assess the economic impact and importance of the ambulatory care sector in Rhode Island.
Key Facts
- Rhode Island's ambulatory healthcare GDP was $3.78 billion in 2020.
- The sector has grown by 22% over the past 10 years.
- Ambulatory healthcare accounts for 3.8% of Rhode Island's total GDP.
FAQs
Q: What does this economic trend measure?
A: This metric measures the gross domestic product (GDP) contribution of the ambulatory healthcare services industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and growth of a key service sector in Rhode Island, which is valuable for policymakers, industry analysts, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and healthcare industry analysts use this metric to assess the economic impact and importance of the ambulatory care sector in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Ambulatory Health Care Services (621) in Rhode Island (RIAMBHCNGSP), retrieved from FRED.