Per Capita Personal Consumption Expenditures: Services: Recreation Services for Maryland
MDPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,179.00
Year-over-Year Change
57.90%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the per capita personal consumption expenditures on recreation services in Maryland. It provides insights into consumer spending patterns and can inform economic policy decisions.
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 on recreation services in Maryland is an economic indicator that tracks the average amount spent by Maryland residents on recreational activities and services. This data is used by economists and policymakers to understand consumer behavior and the state's economic well-being.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditures and population estimates.
Historical Context
This trend is relevant for understanding consumer demand, informing fiscal and monetary policy, and analyzing the state's economic performance.
Key Facts
- Maryland's per capita recreation services spending averaged $1,800 in 2020.
- Recreation services account for approximately 5% of total personal consumption expenditures in Maryland.
- Spending on recreation services in Maryland has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Maryland residents on recreational activities and services, such as entertainment, leisure, and cultural activities.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and can help economists and policymakers understand the state's economic well-being and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditures and population estimates for the state of Maryland.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to inform fiscal and monetary policy decisions, as well as to analyze the overall economic performance of the state of Maryland.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a delay of several months. There may be some limitations in accurately capturing all recreational services spending in the state.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Maryland (MDPCEPCSRECSRV), retrieved from FRED.