Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Indiana
INPCEHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
209,019.50
Year-over-Year Change
73.58%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Indiana measures consumer spending on services within the state. This metric is a key indicator of economic activity and consumer confidence.
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
This series represents household-level consumption of services in Indiana, a significant component of overall economic output. It is used by policymakers and analysts to gauge consumer demand and evaluate the health of the state's service sector.
Methodology
The data is collected through surveys of households and businesses and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in this metric help inform monetary and fiscal policy decisions that can impact employment, inflation, and overall economic growth.
Key Facts
- Indiana's household services spending accounts for over 60% of its total personal consumption expenditures.
- Services spending has grown faster than goods spending in Indiana over the past decade.
- This metric is released monthly by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This metric measures household-level consumption of services in the state of Indiana, including categories like healthcare, housing, and recreation.
Q: Why is this trend relevant for users or analysts?
A: Trends in Indiana's services spending provide insights into consumer demand and the health of the state's service sector, which is a major driver of economic activity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge consumer confidence and make decisions about monetary and fiscal policies that can impact employment, inflation, and overall economic growth.
Q: Are there update delays or limitations?
A: This metric is released monthly by the U.S. Bureau of Economic Analysis, with a typical 1-2 month delay between the reference period and publication.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Indiana (INPCEHCE), retrieved from FRED.