Personal Consumption Expenditures: Services: Other Services for Colorado
COPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30,469.30
Year-over-Year Change
98.61%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Services: Other Services for Colorado' trend measures consumer spending on various services in Colorado, excluding healthcare and housing-related services. This metric is a key indicator of economic activity and consumer demand 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 series tracks personal consumption expenditures on services such as personal care, funeral expenses, and financial services in Colorado. It is a component of the broader personal consumption expenditures statistic and provides insights into consumer behavior and the service sector of the state's economy.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers monitor this trend to assess the health of Colorado's service industry and overall consumer spending patterns.
Key Facts
- Services account for over 60% of Colorado's GDP.
- Other services exclude healthcare and housing-related services.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on various services in Colorado, excluding healthcare and housing-related services. It provides insights into the state's service sector economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of economic activity and consumer demand in Colorado, helping analysts and policymakers assess the health of the state's service industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to evaluate the performance of Colorado's service sector and inform decisions related to economic development and consumer spending patterns.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month delay in publication.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for Colorado (COPCEOSRV), retrieved from FRED.