Per Capita Personal Consumption Expenditures: Services: Health Care for Utah
UTPCEPCHLTHCARE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,833.00
Year-over-Year Change
62.19%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Health Care for Utah' series measures the average amount spent on health care services by individuals in Utah. This metric provides insights into consumer spending patterns and the state's health care 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
This series represents the average per person expenditures on health care services in Utah, such as hospital visits, doctor appointments, and prescription drugs. It is a key indicator of consumer demand and the overall health of the state's medical industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using consumer spending surveys and other economic indicators.
Historical Context
Policy makers and market analysts closely monitor this trend to understand Utah's health care costs and consumer preferences.
Key Facts
- Utah's per capita health care spending was $8,425 in 2021.
- Health care services account for over 15% of total personal consumption in Utah.
- Per capita health care spending in Utah is below the national average.
FAQs
Q: What does this economic trend measure?
A: This series measures the average amount spent per person on health care services in the state of Utah, including hospital visits, doctor appointments, and prescription drugs.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer demand for health care services and the overall performance of Utah's medical industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using consumer spending surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Policy makers and market analysts closely monitor this trend to understand health care costs and consumer preferences in Utah, which informs decisions around regulation, funding, and market development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Health Care for Utah (UTPCEPCHLTHCARE), retrieved from FRED.