Personal Consumption Expenditures: Services: Other Services for Arizona
AZPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,295.10
Year-over-Year Change
72.47%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Services: Other Services for Arizona' metric measures consumer spending on a variety of personal services in the state of Arizona. This statistic 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 economic indicator tracks household expenditures on services that are not classified as healthcare, housing, utilities, or transportation. It provides insights into Arizonans' discretionary spending patterns, which can inform policy decisions and business strategies.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the strength of Arizona's service-based economy and consumer demand.
Key Facts
- Arizona's other services expenditures account for about 10% of total personal consumption.
- This metric has shown steady growth over the past decade, reflecting the state's thriving service economy.
- Other services include personal care, household maintenance, and recreational activities.
FAQs
Q: What does this economic trend measure?
A: The 'Personal Consumption Expenditures: Services: Other Services for Arizona' metric tracks consumer spending on a variety of personal services in the state, excluding healthcare, housing, utilities, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into Arizonans' discretionary spending patterns, which can inform policy decisions and business strategies related to the state's service-based economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses 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 strength of Arizona's service sector and consumer demand, which can inform economic policies and business strategies.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical 2-month delay between the reference period and the release date.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for Arizona (AZPCEOSRV), retrieved from FRED.