Real Gross Domestic Product: Ambulatory Health Care Services (621) in Wisconsin
WIAMBHCRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,081.50
Year-over-Year Change
42.41%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real gross domestic product (GDP) of the ambulatory health care services industry in Wisconsin. It provides insights into the performance and growth of this crucial healthcare sector in the state.
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 Gross Domestic Product: Ambulatory Health Care Services (621) in Wisconsin series tracks the inflation-adjusted economic output of the ambulatory healthcare industry, which includes outpatient care centers, medical and diagnostic laboratories, and home healthcare services. This metric is used to analyze the healthcare industry's contribution to the state's overall economic activity.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Historical Context
This trend is relevant for policymakers, healthcare providers, and economic analysts to understand the dynamics of Wisconsin's healthcare sector and its impact on the state's economy.
Key Facts
- Wisconsin's ambulatory healthcare sector accounts for over 5% of the state's total GDP.
- This industry has experienced steady growth in recent years, outpacing the state's overall economic expansion.
- The COVID-19 pandemic had a significant impact on ambulatory healthcare services in Wisconsin, leading to a sharp decline in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the ambulatory healthcare services industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of Wisconsin's healthcare sector, which is a critical component of the state's economy. It helps policymakers, industry stakeholders, and economic analysts understand the dynamics and contribution of this industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using state-level GDP figures.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, healthcare providers, and economic analysts to understand the healthcare industry's impact on Wisconsin's overall economic activity and to inform policy decisions and strategic planning.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Economic Analysis and may have a delay of several months in availability.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Ambulatory Health Care Services (621) in Wisconsin (WIAMBHCRGSP), retrieved from FRED.