Gross Domestic Product: Health Care and Social Assistance (62) in Rhode Island
RIHLTHSOCASSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,618.90
Year-over-Year Change
27.26%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the health care and social assistance industry in Rhode Island. It provides insights into the economic output and significance of this sector within 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 Gross Domestic Product: Health Care and Social Assistance (62) in Rhode Island series tracks the total value of goods and services produced by the health care and social assistance industry in the state. This data is used by economists and policymakers to analyze the economic contribution and performance of this key sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This economic trend is relevant for understanding the role of the health care industry in Rhode Island's economy and informing related policy decisions.
Key Facts
- Health care is a major industry in Rhode Island, contributing significantly to the state's economy.
- The GDP of the health care and social assistance sector in Rhode Island has grown steadily in recent years.
- This economic trend provides valuable data for analyzing the economic importance of the health care industry in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced by the health care and social assistance industry in the state of Rhode Island, as part of the state's overall gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic significance and performance of the health care sector within Rhode Island's economy, which is useful for policymakers, researchers, and industry stakeholders.
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 accounting principles.
Q: How is this trend used in economic policy?
A: This economic trend is used by policymakers, economists, and industry analysts to understand the role and contribution of the health care sector in Rhode Island's economy, which can inform policy decisions and strategic planning.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions common to national economic statistics, but it provides a reliable and timely representation of the health care industry's GDP in Rhode Island.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Health Care and Social Assistance (62) in Rhode Island (RIHLTHSOCASSNQGSP), retrieved from FRED.