Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Arizona
AZPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,149.00
Year-over-Year Change
89.19%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on food services and accommodations in Arizona. It provides insight into consumer spending patterns and the strength of the state's service sector.
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
The Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Arizona series tracks consumer spending on dining, drinking, and lodging within the state. This metric is closely watched by economists and policymakers to assess the health of Arizona's consumer-facing industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using consumer spending surveys and economic modeling.
Historical Context
Trends in this metric are relevant for understanding Arizona's economic conditions and guiding fiscal and monetary policy decisions.
Key Facts
- Arizona's per capita spending on food services and accommodations was $5,462 in 2021.
- This metric has grown by an average of 2.8% annually over the past decade.
- Food services and accommodations account for approximately 10% of Arizona's total personal consumption expenditures.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on food services and accommodations within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer spending patterns and the strength of Arizona's service sector, which is crucial for understanding the state's overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using consumer spending surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Trends in this metric are relevant for understanding Arizona's economic conditions and guiding fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Arizona (AZPCEPCFDSRVACCMD), retrieved from FRED.