Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in South Carolina
SCEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,372.10
Year-over-Year Change
52.80%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the educational services, health care, and social assistance sectors in South Carolina. It is an important indicator for policymakers and economists to assess the state's service-based 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 real GDP for educational services, health care, and social assistance in South Carolina represents the inflation-adjusted total value of goods and services produced by these industries. This metric provides insight into the productivity and growth of key service sectors in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by policymakers and market analysts to understand the performance and contributions of these service industries to South Carolina's overall economic health.
Key Facts
- South Carolina's real GDP for education, healthcare, and social assistance was $31.9 billion in 2021.
- This sector accounted for 13.5% of the state's total real GDP in 2021.
- The real GDP for this sector grew by 3.2% in South Carolina between 2020 and 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the educational services, health care, and social assistance sectors in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and growth of key service sectors in South Carolina's economy, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and market analysts to understand the performance and contributions of these service industries to South Carolina's overall economic health.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Bureau of Economic Analysis, with potential delays of several months.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in South Carolina (SCEDHLTHSOCASSRGSP), retrieved from FRED.