Personal Consumption Expenditures: Services: Food Services and Accommodations for Louisiana
LAPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,229.90
Year-over-Year Change
71.50%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures personal consumption expenditures on food services and accommodations in Louisiana. It provides insights into consumer spending 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
The Personal Consumption Expenditures: Services: Food Services and Accommodations for Louisiana measures the total dollar value of consumer spending on food services and accommodations within the state. It is a key metric for analyzing the health and trends of Louisiana's service economy.
Methodology
The data is collected through household surveys and business reporting by the U.S. Bureau of Economic Analysis.
Historical Context
This indicator is used by policymakers, analysts, and businesses to monitor consumer demand and the performance of Louisiana's hospitality industry.
Key Facts
- Louisiana's food services and accommodations sector accounts for over 10% of the state's GDP.
- Consumer spending on food services and accommodations has grown by 25% in Louisiana over the past decade.
- The COVID-19 pandemic significantly impacted this indicator, with a 35% decline in 2020 before a gradual recovery.
FAQs
Q: What does this economic trend measure?
A: This indicator measures personal consumption expenditures on food services and accommodations within the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and the performance of Louisiana's hospitality industry, which is a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and business reporting by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use this indicator to monitor consumer spending and the health of Louisiana's service sector, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: There may be a 1-2 month delay in the data releases, and the indicator may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for Louisiana (LAPCEFDSRVACCMD), retrieved from FRED.