Personal Consumption Expenditures: Services for Missouri
MOPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
212,649.70
Year-over-Year Change
63.88%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Missouri trend measures the total value of services consumed by households in the state of Missouri. This metric 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
The Personal Consumption Expenditures: Services for Missouri series tracks the purchases of services by individuals and households within the state, including spending on healthcare, education, transportation, recreation, and other service-based categories. This data is widely used by economists and policymakers to assess the overall health of the Missouri economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic indicators.
Historical Context
Analysts monitor this trend to gauge consumer confidence and spending patterns in Missouri, which can inform business and policy decisions.
Key Facts
- Missouri accounts for approximately 2% of total U.S. personal consumption expenditures.
- Services make up around 65% of total personal consumption in Missouri.
- The services sector is the largest component of the Missouri economy.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Missouri trend measures the total value of services consumed by households in the state of Missouri.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic activity and consumer demand in Missouri, which is useful for businesses, policymakers, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Analysts monitor this trend to gauge consumer confidence and spending patterns in Missouri, which can inform business and policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, but may be subject to revisions and delays common to economic statistics.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Missouri (MOPCESRV), retrieved from FRED.