Personal Consumption Expenditures: Services: Food Services and Accommodations for Florida
FLPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109,551.40
Year-over-Year Change
128.88%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures consumer spending on food services and accommodations in Florida. It provides insights into the health of the state's service sector 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
The Personal Consumption Expenditures: Services: Food Services and Accommodations for Florida tracks the monthly changes in consumer spending on dining out and lodging within the state. This metric is a valuable indicator of economic activity and consumer behavior in the hospitality industry.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely watched by policymakers, businesses, and investors to gauge Florida's economic performance and consumer sentiment.
Key Facts
- Florida is a major tourism and hospitality hub in the United States.
- Consumer spending on food services and accommodations accounts for a significant portion of the state's GDP.
- This trend provides a timely indicator of changes in consumer behavior and the health of Florida's service sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on food services and accommodations in the state of Florida. It tracks changes in spending on dining out and lodging within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is a valuable indicator of economic activity and consumer confidence in Florida's hospitality industry, which is a major driver of the state's economy.
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: Policymakers, businesses, and investors closely monitor this trend to gauge Florida's economic performance and consumer sentiment, which can inform decision-making and policy actions.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be some delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for Florida (FLPCEFDSRVACCMD), retrieved from FRED.