Per Capita Personal Consumption Expenditures: Services: Other Services for Alabama
ALPCEPCOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,790.00
Year-over-Year Change
71.26%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures per capita personal consumption expenditures on services, excluding health care, in the state of Alabama. It provides insights into consumer spending patterns and the overall health of the state's economy.
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 Per Capita Personal Consumption Expenditures: Services: Other Services for Alabama metric tracks consumer spending on a variety of service-based activities, such as personal care, financial services, and recreation. It is a valuable indicator of economic activity and consumer confidence in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household survey information and other economic data sources.
Historical Context
Policymakers and analysts use this trend to assess the strength of Alabama's consumer-driven economy and make informed decisions about economic and fiscal policies.
Key Facts
- Alabama's per capita personal consumption expenditures on services was $7,798 in 2020.
- This trend has increased by 20% over the past 10 years in Alabama.
- Services account for over 60% of total personal consumption expenditures in Alabama.
FAQs
Q: What does this economic trend measure?
A: This indicator measures per capita personal consumption expenditures on services, excluding health care, in the state of Alabama. It provides insights into consumer spending patterns and the overall health of the state's economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is a valuable indicator of economic activity and consumer confidence in Alabama. Policymakers and analysts use it to assess the strength of the state's consumer-driven economy and make informed decisions about economic and fiscal policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household survey information and other economic data sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the strength of Alabama's consumer-driven economy and make informed decisions about economic and fiscal policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Other Services for Alabama (ALPCEPCOSRV), retrieved from FRED.