Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Arkansas
ARPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,870.00
Year-over-Year Change
85.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on food services and accommodations in Arkansas. It provides insights into consumer spending patterns and the service sector 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
Per capita personal consumption expenditures for food services and accommodations represent the average amount spent by Arkansas residents on dining out, hotels, and related services. This metric is a key indicator of consumer behavior and the health of the state's service industry.
Methodology
The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by policymakers, economists, and businesses to assess economic conditions and consumer demand in Arkansas.
Key Facts
- Arkansas per capita spending on food services and accommodations was $3,700 in 2021.
- This trend has shown steady growth over the past decade, reflecting the state's expanding service economy.
- Food services and accommodations account for approximately 10% of total personal consumption expenditures in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Arkansas on food services, such as dining out, and accommodations, like hotels and lodging.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior and the health of the service sector in Arkansas, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this trend to assess economic conditions and consumer demand in Arkansas, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a lag of several months. There may be limitations in terms of sample size or survey response rates for certain geographic areas.
Related Trends
Gross Domestic Product: Electrical Equipment, Appliance, and Component Manufacturing (335) in Arkansas
ARELCEQAPMANNGSP
Gross Domestic Product: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Arkansas
ARARTETRTACCFDNGSP
All Employees: Trade, Transportation, and Utilities in Arkansas
SMU05000004000000001A
People 25 Years and Over Who Have Completed a Graduate or Professional Degree for Arkansas
GCT1503AR
Coefficient for Industrial Carbon Dioxide Emissions, Natural Gas (Pipeline) for Arkansas
EMISSCO2CNGICBARA
Commercial Carbon Dioxide Emissions, Motor Gasoline for Arkansas
EMISSCO2VMGCCBARA
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Arkansas (ARPCEPCFDSRVACCMD), retrieved from FRED.