Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Massachusetts
MAPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,864.00
Year-over-Year Change
82.45%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on food services and accommodations in Massachusetts. It provides insights into consumer spending patterns and the state's service sector activity.
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 Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Massachusetts series tracks household spending on dining, lodging, and other services in the state. This data point is used by economists and policymakers to analyze consumer behavior and the health of the Massachusetts service industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer spending.
Historical Context
This trend is important for understanding the state's economic conditions and can inform policy decisions related to the service sector.
Key Facts
- Massachusetts per capita spending on food services and accommodations was $6,334 in 2021.
- This trend has grown by an average of 3.2% annually over the past decade.
- The service sector accounts for over 80% of Massachusetts' gross state product.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on food services and accommodations in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer spending patterns and the health of Massachusetts' service sector, which is crucial for understanding the state's overall economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer spending.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to the service sector, consumer behavior, and the overall economic conditions in Massachusetts.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months, and may be subject to revisions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Massachusetts (MAPCEPCFDSRVACCMD), retrieved from FRED.