Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Rhode Island
RIEDHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.21
Year-over-Year Change
16.87%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the educational services, health care, and social assistance sectors in Rhode Island. It provides insight into the growth and productivity of these key industries in the state'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
The chain-type quantity index tracks changes in the real output of the educational services, health care, and social assistance sectors in Rhode Island. This metric is used by economists and policymakers to analyze the performance and contributions of these industries to the state's overall economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounting methods.
Historical Context
This trend is relevant for understanding the health and dynamics of Rhode Island's service-oriented economy and for informing policy decisions.
Key Facts
- Rhode Island's educational, health, and social assistance sectors account for over 25% of the state's real GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The health care industry is the largest component, comprising nearly two-thirds of the total index.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the educational services, health care, and social assistance sectors in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contributions of these key service industries to Rhode Island's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the health and dynamics of Rhode Island's service-oriented economy and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Rhode Island (RIEDHLTHSOCASSQGSP), retrieved from FRED.