Personal Consumption Expenditures: Services for Louisiana
LAPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
144,155.80
Year-over-Year Change
64.29%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Louisiana measures consumer spending on services in the state of Louisiana. This is a key indicator of economic activity and consumer demand.
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 metric tracks personal consumption expenditures on services, which include spending on healthcare, recreation, transportation, and other non-goods categories. It provides insights into the state's service sector and overall economic health.
Methodology
The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This indicator is used by policymakers, economists, and market analysts to assess Louisiana's economic performance and consumer trends.
Key Facts
- Louisiana's service sector accounts for over 60% of its GDP.
- Services expenditures have grown by 3.2% annually in Louisiana over the past decade.
- Consumer spending on healthcare makes up the largest share of services expenditures in the state.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Louisiana measures consumer spending on services in the state, including healthcare, recreation, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into Louisiana's service sector and overall economic health, which is crucial for policymakers, economists, and market analysts assessing the state's performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, economists, and market analysts to assess Louisiana's economic performance and consumer trends, which informs policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a lag of approximately three months.
Related Trends
Net Earnings by Place of Residence in Louisiana
LAENET
Average Weekly Hours of Production Employees: Manufacturing: Non-Durable Goods in Louisiana
SMU22000003200000007
All Employees: Accommodation and Food Services in Louisiana
SMU22000007072000001A
Value of Exports to Denmark from Louisiana
LADNKA052SCEN
Transportation Carbon Dioxide Emissions, Motor Gasoline for Louisiana
EMISSCO2VMGACBLAA
Rental Vacancy Rate for Louisiana
LARVAC
Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Louisiana (LAPCESRV), retrieved from FRED.