Number of Americans Visiting the Doctorâ€™s Office on the Rise
Published By : 11 Jun 2015 | Published By : QYRESEARCH
An increasing number of Americans are visiting the doctor’s office. This has, in turn, aided the growth of the health care services industry in the United States and also supported the growth of related exchange traded funds.
The SPDR S&P Health Care Services exchange traded funds year to date rose 12.4 per cent, while the iShares U.S. Health Care Providers exchange traded funds increased 15.4 per cent. In contrast, there was an 8.5 per cent gain in the Health Care Select Sector SPDR so far this year. The Health Care Select Sector SPDR includes a shift of 19.3 per cent towards the health care services and providers space.
The Commerce Department, in a quarterly services survey, revealed that health care consumption, also including health care expenditure, increased at a much faster pace than the government had anticipated in its GDP assessment in May.
Jesse Hurwitz, one of Barclay’s economists, said in an article by Reuters that the data in the survey indicates increased spending on health care services, especially at outpatient care facilities and other providers of medical services.
The survey states that the health care spending could have upped the gross domestic product in the United States by as much as four tenths of a percentage point to round up to a yearly rate of 2.2 per cent.
Hurwitz, according to the Wall Street Journal, said that the consumption of services was slightly better than what the Bureau of Economic Analysis has predicted and a majority of that leaned towards health care.