Personal Consumption Expenditures: Services: Food Services and Accommodations for Missouri
MOPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,107.60
Year-over-Year Change
80.46%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food services and accommodations in the state of Missouri. It provides insights into consumer spending patterns and the health of the local service industry.
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 Personal Consumption Expenditures: Services: Food Services and Accommodations for Missouri series tracks household spending on restaurants, hotels, and other food and accommodation services within the state. This metric is used by economists and policymakers to monitor consumer demand and the performance of the service sector.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is valuable for understanding the state's economic conditions and informing policy decisions related to the service industry.
Key Facts
- Missouri's food services and accommodations sector accounts for over 10% of the state's GDP.
- Consumer spending on food services and accommodations in Missouri has grown by 25% over the past decade.
- The COVID-19 pandemic had a significant impact on this sector, with spending declining by 30% in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on food services and accommodations within the state of Missouri. It provides insights into consumer spending patterns and the performance of the local service industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is valuable for understanding the state's economic conditions and informing policy decisions related to the service industry. It can be used to monitor consumer demand and the health of the local food services and accommodations sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to monitor consumer demand and the performance of the service sector, which can inform decisions related to economic development, taxation, and regulation.
Q: Are there update delays or limitations?
A: There may be delays of several months in the release of this data, and the accuracy may be affected by changes in survey methodologies or economic conditions.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for Missouri (MOPCEFDSRVACCMD), retrieved from FRED.