Personal Consumption Expenditures: Services: Financial Services and Insurance for Indiana
INPCEFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,319.40
Year-over-Year Change
79.28%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures personal consumption expenditures on financial services and insurance in the state of Indiana. It provides insights into consumer spending patterns and the financial health of Indiana residents.
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 Personal Consumption Expenditures: Services: Financial Services and Insurance for Indiana trend tracks the consumer spending on a range of financial products and insurance services within the state. It is a key indicator of the economic activity and consumer confidence in Indiana's financial sector.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic accounts.
Historical Context
This trend is widely used by economists, policymakers, and financial institutions to analyze the financial behavior of Indiana consumers and guide investment and regulatory decisions.
Key Facts
- Indiana's personal consumption expenditures on financial services and insurance reached $45.2 billion in 2021.
- This trend has grown by an average of 3.2% annually over the past decade.
- Financial services and insurance account for approximately 8% of total personal consumption expenditures in Indiana.
FAQs
Q: What does this economic trend measure?
A: This trend measures the personal consumption expenditures on financial services and insurance products by Indiana residents.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the financial behavior and spending patterns of Indiana consumers, which is crucial for businesses, policymakers, and economists to understand the state's economic health and make informed decisions.
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 accounts.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, financial institutions, and economists to analyze consumer financial activity, guide investment decisions, and inform regulatory policies in Indiana's financial sector.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, and there may be a slight delay in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Financial Services and Insurance for Indiana (INPCEFININS), retrieved from FRED.