Per Capita Personal Consumption Expenditures: Services for Arizona
AZPCEPCSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,715.00
Year-over-Year Change
70.28%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services for Arizona' series measures the average spending on services by Arizona residents. This key economic indicator provides insights into consumer demand and the overall health 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
This series represents the average dollar amount spent per person in Arizona on services, which includes categories like healthcare, recreation, and transportation. Economists and policymakers analyze this data to understand consumer behavior and spending patterns within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic records.
Historical Context
This metric is widely used to inform economic policy decisions and market analysis at the state level.
Key Facts
- Arizona's per capita services spending has increased by 25% over the past decade.
- Healthcare accounts for the largest share of services expenditures in Arizona.
- The COVID-19 pandemic led to a 10% decline in Arizona's per capita services spending in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average dollar amount spent per person in Arizona on services, including healthcare, recreation, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into consumer demand and spending patterns within the Arizona economy, which is crucial for economic policymaking and market analysis.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data based on surveys and economic records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to inform decisions and analysis related to the overall health and consumer behavior within the Arizona economy.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month delay, 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 for Arizona (AZPCEPCSRV), retrieved from FRED.