Personal Consumption Expenditures: Services for Florida
FLPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
924,434.80
Year-over-Year Change
101.81%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Florida measures consumer spending on services in the state of Florida. It is a key indicator of economic activity and consumer demand.
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 economic trend tracks household expenditures on services such as healthcare, recreation, and transportation within the state of Florida. It is an important measure of consumer behavior and can inform policy decisions related to the Florida economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by policymakers, economists, and market analysts to assess the health of the Florida economy.
Key Facts
- Florida is the third most populous state in the U.S.
- Services account for over 60% of Florida's GDP.
- Consumer spending on services makes up the largest component of personal consumption expenditures.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Florida tracks household spending on services within the state, including healthcare, recreation, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and the health of the services sector in the Florida economy, which is crucial for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and market analysts to assess the strength of consumer spending and the overall economic conditions in Florida.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Florida (FLPCESRV), retrieved from FRED.