(Bloomberg) — Spending on health care services increased in the second quarter after falling in the first three months of the year, according to a report from the Census Bureau that the government uses to fine-tune its estimates of economic growth.
Revenue at health care providers unadjusted for seasonal swings or price changes rose 3 percent from the first quarter, today's quarterly data on service industries showed. Sales were up 3.7 percent from the year before.
The health spending increase may alter economists' estimates for second-quarter gross domestic product, as they incorporate the new data into their calculations. The economy grew at a 4.2 percent annualized rate in the second quarter, according to the Commerce Department's second estimate, issued Aug. 28.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
