Ask HN: Is it a good idea to record external APIs/microservices response times?

I wonder if it will be a good idea to record the external APIs or microservices response time as part of application metrics.

I do capture the response time of my API. But while analyzing a performance or latency related issues I think it will help to know the performance of the external systems as well. This can quickly point out any issues due to a downstream system or even a DB. I understand that these systems will also have these metrics available but they don't always paint the complete picture. For instance they will not include network latencies.

But on the flip side I wonder will this mean generating a lot data and maybe as well lead to increasing latency of the current API.

I wonder if this is a practice in the industry? What are your thoughts?