Per Capita Personal Consumption Expenditures: Services: Recreation Services for Florida
FLPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,264.00
Year-over-Year Change
88.98%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Recreation Services for Florida' metric tracks consumer spending on recreational services in Florida. This indicator provides insights into the state's economic health and consumer demand patterns.
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 data series measures the average per capita spending on recreation services, such as entertainment, sports, and leisure activities, by Florida residents. It is a key economic indicator used to analyze consumer behavior and the performance of the state's service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic data sources.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the strength of Florida's consumer market and the broader economic climate.
Key Facts
- Florida is a major tourism destination, with recreation services accounting for a significant portion of its economy.
- Recreation spending is an important indicator of consumer confidence and discretionary income levels.
- This metric has shown volatility in recent years, reflecting the impact of economic conditions on leisure activities.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average per capita spending by Florida residents on recreation services, such as entertainment, sports, and leisure activities.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer demand patterns and the strength of Florida's service sector, which is crucial for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic data sources.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor this trend to assess the strength of Florida's consumer market and the broader economic climate, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a delay in release, reflecting the time required to collect and process the underlying survey information.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Florida (FLPCEPCSRECSRV), retrieved from FRED.