Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Hawaii
HIPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,298.00
Year-over-Year Change
113.89%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on food services and accommodations in Hawaii. It is a key indicator of consumer spending and service sector activity in the state.
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 Hawaii series tracks inflation-adjusted spending by Hawaii residents on dining out, hotels, and other hospitality services. This metric provides insights into the health of the local service economy and consumer confidence.
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 trend to monitor the strength of Hawaii's tourism-dependent economy.
Key Facts
- Hawaii's service sector accounts for over 90% of its GDP.
- Tourism generates about a quarter of the state's economic activity.
- Visitor spending on food and lodging is a key driver of Hawaii's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita inflation-adjusted spending by Hawaii residents on food services and accommodations, reflecting consumer demand for hospitality services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health of Hawaii's service sector, which is heavily dependent on tourism and a key 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 and analysts use this trend to monitor consumer spending and the strength of Hawaii's tourism-dependent economy, informing economic and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, 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 Hawaii (HIPCEPCFDSRVACCMD), retrieved from FRED.