Real Gross Domestic Product: Health Care and Social Assistance (62) in the Southeast BEA Region
Quarterly, Seasonally Adjusted Annual Rate
SESTHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
424,575.00
Year-over-Year Change
15.74%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the seasonally adjusted annual rate of social assistance and social services spending by state and local governments in the United States on a quarterly basis.
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 Quarterly, Seasonally Adjusted Annual Rate of Social Assistance and Social Services Spending by State and Local Governments provides insight into the scale and volatility of public-sector investments in social programs and community services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This metric is used by economists and policymakers to analyze government priorities and the fiscal health of state and local budgets.
Key Facts
- Spending peaked at $845 billion in Q4 2020.
- Growth rate averaged 4.7% annually from 2015-2020.
- Social services account for over 10% of state/local budgets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the seasonally adjusted annual rate of social assistance and social services spending by state and local governments in the United States on a quarterly basis.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and volatility of public-sector investments in social programs and community services, which is relevant for economists and policymakers analyzing government priorities and fiscal health.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze government priorities and the fiscal health of state and local budgets.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a delay of several months.
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Citation
U.S. Bureau of Economic Analysis, Quarterly, Seasonally Adjusted Annual Rate (SESTHLTHSOCASSRQGSP), retrieved from FRED.