Per Capita Personal Consumption Expenditures: Services for Maryland
MDPCEPCSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,570.00
Year-over-Year Change
46.02%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures: Services for Maryland measures consumer spending on services in the state. It's 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 the average per-person spending on services like healthcare, housing, transportation, and entertainment in Maryland. It's used to monitor consumer trends and inform economic policymaking.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure estimates.
Historical Context
Policymakers and analysts use this metric to assess the health of Maryland's consumer economy.
Key Facts
- Maryland's per capita services spending reached $39,425 in 2021.
- Service consumption makes up around 65% of total personal consumption in Maryland.
- The metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average per-person spending on services like healthcare, housing, and entertainment in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: Per capita services spending is a key indicator of consumer demand and economic activity in Maryland, making it useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Maryland's consumer economy and inform economic decision-making.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of several months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services for Maryland (MDPCEPCSRV), retrieved from FRED.