Personal Consumption Expenditures: Services: Other Services for North Carolina
NCPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48,078.40
Year-over-Year Change
88.00%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Other Services for North Carolina measures household spending on a variety of services in the state. This metric is a key indicator of consumer demand and economic activity.
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 data series tracks personal consumption of services in North Carolina that are not categorized as healthcare, housing, or transportation. It provides insights into the strength of the service economy and consumer confidence in the state.
Methodology
The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the health of North Carolina's economy and consumer sector.
Key Facts
- North Carolina's other services spending accounts for over 10% of total personal consumption.
- Other services include personal care, repairs, and other miscellaneous expenditures.
- This metric has shown steady growth in North Carolina over the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks personal consumption of services in North Carolina that are not categorized as healthcare, housing, or transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the strength of the service economy and consumer confidence in North Carolina, which is crucial for assessing the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and compiled 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 assess the health of North Carolina's consumer sector and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for North Carolina (NCPCEOSRV), retrieved from FRED.