Personal Consumption Expenditures: Services: Recreation Services for Louisiana
LAPCESRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,835.90
Year-over-Year Change
64.68%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Recreation Services for Louisiana measures household spending on recreational services within the state. This economic indicator provides insights into consumer demand and is closely tracked by policymakers.
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 consumer expenditures on services related to recreation, leisure, and entertainment in Louisiana. It is a component of the broader personal consumption expenditures data, a key indicator of economic health and consumer confidence.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in recreation services spending are analyzed by economists and policymakers to assess the strength of consumer demand and the broader economic climate.
Key Facts
- Recreation services account for approximately 5% of total consumer spending in Louisiana.
- Spending on recreation services has grown by an average of 3% annually over the past decade.
- The COVID-19 pandemic caused a significant decline in recreation services spending in Louisiana in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures household spending on recreational services in the state of Louisiana, including activities like entertainment, leisure, and tourism.
Q: Why is this trend relevant for users or analysts?
A: Trends in recreation services spending provide insights into consumer demand and the overall health of the Louisiana economy, which is important for policymakers and market analysts.
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 economists analyze recreation services spending to assess consumer confidence and make informed decisions about fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis with a lag of several weeks, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Recreation Services for Louisiana (LAPCESRECSRV), retrieved from FRED.