Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Wisconsin
WIEDHLTHSOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.29
Year-over-Year Change
25.02%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance in Wisconsin measures the real output of this economic sector in the state, providing insights into its growth and productivity.
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 index tracks the volume of goods and services produced by the education, healthcare, and social assistance industries in Wisconsin, adjusting for price changes to isolate real economic activity. It is a key indicator of the performance and contribution of these sectors to the state's overall economic growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Historical Context
Policymakers and economists monitor this index to understand the health and dynamics of Wisconsin's service-providing industries.
Key Facts
- The index has a base year of 2012.
- This sector accounts for over 15% of Wisconsin's total GDP.
- The index experienced steady growth from 2010 to 2019.
FAQs
Q: What does this economic trend measure?
A: This index measures the real output, or volume of goods and services produced, by the education, healthcare, and social assistance industries in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the performance and contribution of these key service-providing sectors to Wisconsin's overall economic growth and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-weighted methodology.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this index to understand the health and dynamics of Wisconsin's education, healthcare, and social assistance industries, which are important drivers of the state's economy.
Q: Are there update delays or limitations?
A: The index is published quarterly with a lag, and may be subject to revisions as more complete data becomes available.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Wisconsin (WIEDHLTHSOCASSQGSP), retrieved from FRED.