Per Capita Personal Consumption Expenditures: Services: Transportation Services for Hawaii
HIPCEPCTRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,225.00
Year-over-Year Change
95.52%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on transportation services in Hawaii. It provides valuable insights into consumer spending behavior and the state's service sector.
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
Per Capita Personal Consumption Expenditures: Services: Transportation Services for Hawaii tracks the average amount spent by Hawaii residents on transportation services, such as public transit, taxis, and other for-hire transportation. This metric is used by economists to analyze consumer demand and the overall health of the state's service economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts closely monitor this trend to assess economic conditions and consumer confidence in Hawaii.
Key Facts
- Hawaii residents spent an average of $4,321 on transportation services in 2021.
- Transportation services accounted for 8.2% of total personal consumption expenditures in Hawaii in 2021.
- The trend has increased by 5.7% over the past 5 years, indicating growing consumer demand.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per capita personal consumption expenditures on transportation services, such as public transit, taxis, and other for-hire transportation, by residents of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into consumer spending behavior and the overall health of Hawaii's service sector, which is important for policymakers and economists analyzing the state's economic conditions.
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: Policymakers and analysts closely monitor this trend to assess economic conditions and consumer confidence in Hawaii, which can inform policy decisions and market forecasts.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately three 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: Transportation Services for Hawaii (HIPCEPCTRANS), retrieved from FRED.