Chain-Type Quantity Index for Real GDP: Health Care and Social Assistance (62) in Rhode Island
Quarterly, Seasonally Adjusted
RIHLTHSOCASSQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
117.76
Year-over-Year Change
14.15%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the seasonally adjusted quarterly Gross State Product (GSP) for the Health and Social Assistance sector in the United States. It provides important insights into the performance and contribution of this key industry 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
The Health and Social Assistance Gross State Product (RIHLTHSOCASSQQGSP) trend tracks the total economic output or value-added in the health and social assistance sector at the state level on a quarterly basis. This metric is a key indicator of the health and dynamism of this critical service industry, which accounts for a significant portion of economic activity and employment in many states.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive state-level GDP reporting.
Historical Context
Policymakers and industry analysts closely monitor this trend to understand the economic conditions and outlook for the health and social assistance sector, which has major implications for employment, consumer spending, and overall state-level economic performance.
Key Facts
- The health and social assistance sector accounts for over 13% of total U.S. GDP.
- This industry employs over 22 million workers in the United States.
- Quarterly GSP data provides timely insights into economic conditions and outlook.
FAQs
Q: What does this economic trend measure?
A: This trend measures the seasonally adjusted quarterly Gross State Product (GSP) for the Health and Social Assistance sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the performance and contribution of the critical health and social assistance industry to overall state-level economic growth and activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive state-level GDP reporting.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this trend to understand the economic conditions and outlook for the health and social assistance sector, which has major implications for employment, consumer spending, and overall state-level economic performance.
Q: Are there update delays or limitations?
A: The quarterly GSP data is typically released with a lag of several months, but provides timely insights into current economic conditions and trends.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted (RIHLTHSOCASSQQGSP), retrieved from FRED.