Personal Consumption Expenditures: Services: Other Services for Hawaii
HIPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,153.00
Year-over-Year Change
48.86%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Services: Other Services for Hawaii' metric measures household spending on diverse personal services in Hawaii, providing insights into consumer behavior and economic conditions.
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 tracks personal consumption expenditures (PCE) on a range of services in Hawaii, excluding healthcare, housing, and utilities. It serves as an important indicator of consumer demand and the overall health of Hawaii's service-based economy.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess economic performance and consumer confidence in Hawaii.
Key Facts
- Hawaii's service sector accounts for over 75% of its GDP.
- Other services include personal care, dry cleaning, and various repair activities.
- This metric excludes spending on healthcare, housing, and utilities.
FAQs
Q: What does this economic trend measure?
A: This metric tracks household spending on a range of personal services in Hawaii, excluding healthcare, housing, and utilities.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into consumer demand and the overall health of Hawaii's service-based economy, which is critical for policymakers and economic analysts.
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 and analysts use this metric to assess economic performance and consumer confidence in Hawaii.
Q: Are there update delays or limitations?
A: The data is published quarterly with a few months' delay, and may be subject to revisions.
Related Trends
Retail Trade Wages and Salaries in Hawaii
HIWRET
State Tax Collections: T14 Pari-Mutuels Sales Tax for Hawaii
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Real Personal Income: Metropolitan Portion for Hawaii
HIMPRPI
Average Weekly Earnings of Production Employees: Retail Trade in Hawaii
SMU15000004200000030
Unemployment Level for Hawaii
UNEMPLOYHI
State Government Tax Collections, Total Other Taxes in Hawaii
HITLOTHTAX
Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for Hawaii (HIPCEOSRV), retrieved from FRED.