Personal Consumption Expenditures: Services: Food Services and Accommodations for Arkansas
ARPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,803.50
Year-over-Year Change
93.91%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Food Services and Accommodations for Arkansas measures consumer spending on dining, lodging, and related services in the state.
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 economic indicator tracks Arkansans' consumption of food and accommodation services, providing insights into consumer behavior and the state's service sector. It is a key metric for understanding trends in the Arkansas economy.
Methodology
The data is collected through surveys by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely watched by policymakers and businesses to gauge the health of Arkansas's consumer and tourism industries.
Key Facts
- Arkansas's food and accommodation spending accounts for over 15% of total personal consumption.
- Spending in this sector has grown by 25% in the past decade.
- Food services make up the largest component, over 70% of the total.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks Arkansans' consumption of food services, accommodations, and related services.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into consumer behavior and the health of Arkansas's service sector economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to gauge the state's consumer and tourism industries.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for Arkansas (ARPCEFDSRVACCMD), retrieved from FRED.