Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for District of Columbia
DCPCEPCFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,386.00
Year-over-Year Change
60.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on financial services and insurance in Washington, D.C. It provides insights into consumer spending behavior and the strength of the local financial sector.
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: Financial Services and Insurance for District of Columbia series tracks the average amount spent by residents on financial and insurance-related services. This metric is used to analyze consumer demand, the health of the local financial industry, and regional economic trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on consumer surveys and economic statistics.
Historical Context
This trend is closely monitored by policymakers, financial institutions, and economic analysts to assess financial sector activity and consumer financial health.
Key Facts
- Washington, D.C. has a large and diverse financial services industry.
- Consumer spending on financial services can indicate economic confidence.
- This metric is seasonally adjusted to account for cyclical spending patterns.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by residents of Washington, D.C. on financial services and insurance-related products and services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand for financial products, the health of the local financial sector, and overall economic conditions in the District of Columbia.
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 consumer surveys and economic statistics.
Q: How is this trend used in economic policy?
A: Policymakers, financial institutions, and economic analysts closely monitor this trend to assess financial sector activity, consumer financial health, and regional economic performance in Washington, D.C.
Q: Are there update delays or limitations?
A: This data is released on a quarterly basis with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for District of Columbia (DCPCEPCFININS), retrieved from FRED.