Per Capita Personal Consumption Expenditures: Services: Recreation Services for Illinois
ILPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,080.00
Year-over-Year Change
56.27%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Recreation Services for Illinois' trend measures consumer spending on recreation services in Illinois. This metric is a key indicator of economic activity and consumer demand 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 personal consumption expenditures per capita on recreation services in Illinois, which includes spending on items like entertainment, hobbies, and leisure activities. It provides insight into the spending patterns and preferences of Illinois residents.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic reporting.
Historical Context
This trend is used by policymakers, analysts, and businesses to understand consumer behavior and gauge the economic health of Illinois.
Key Facts
- Illinois residents spent an average of $2,897 per person on recreation services in 2021.
- Recreation services account for approximately 5% of total personal consumption expenditures in Illinois.
- Spending on recreation services in Illinois has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures per capita on recreation services in the state of Illinois, including spending on entertainment, hobbies, and leisure activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer behavior and spending patterns in Illinois, which can inform business decisions, economic policymaking, and assessments of the state's economic health.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic reporting.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor consumer demand, gauge the economic health of Illinois, and inform decisions related to taxation, spending, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Illinois (ILPCEPCSRECSRV), retrieved from FRED.