Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Connecticut
CTPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,065.00
Year-over-Year Change
80.51%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food services and accommodations per capita in Connecticut. It provides insights into consumer spending and 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 Connecticut tracks consumer spending on dining, lodging, and related services within the state. This metric is useful for analyzing consumer behavior, service industry activity, and broader economic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts utilize this trend to gauge the health of Connecticut's service economy and consumer demand.
Key Facts
- Connecticut's per capita spending on food services and accommodations was $5,798 in 2021.
- This metric has grown by an average of 2.4% annually over the past decade.
- The service sector accounts for over 80% of Connecticut's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on food services and accommodations per capita in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the health of Connecticut's service sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to gauge consumer demand and service industry activity in Connecticut, which informs economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is typically published 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: Food Services and Accommodations for Connecticut (CTPCEPCFDSRVACCMD), retrieved from FRED.