Personal Consumption Expenditures: Services: Transportation Services for Hawaii
HIPCETRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,193.80
Year-over-Year Change
102.65%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Transportation Services for Hawaii trend measures consumer spending on transportation services in Hawaii. This metric is important for analyzing economic activity and consumer behavior 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
This series tracks inflation-adjusted consumer spending on transportation services, such as taxis, public transportation, and other travel-related services, within the state of Hawaii. It provides insights into Hawaiians' transportation consumption patterns and the overall strength of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their personal consumption expenditures program.
Historical Context
Policymakers and economists use this trend to gauge the health of Hawaii's service sector and consumer demand.
Key Facts
- Transportation services account for 5% of total consumer spending in Hawaii.
- The trend reached a peak in 2019 before declining during the COVID-19 pandemic.
- Hawaii has the highest per capita transportation costs of any U.S. state.
FAQs
Q: What does this economic trend measure?
A: This trend measures inflation-adjusted consumer spending on transportation services, such as taxis, public transit, and other travel-related services, in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and economic activity in Hawaii's service sector, which is crucial for understanding the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their personal consumption expenditures program.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to gauge the strength of consumer demand and the transportation services industry in Hawaii, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, and there may be a 1-2 month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Transportation Services for Hawaii (HIPCETRANS), retrieved from FRED.