Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Mississippi
MSPCEHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74,865.40
Year-over-Year Change
54.39%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Mississippi trend measures consumer spending on services in the state. It 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
This metric tracks the total amount spent by Mississippi households on a variety of services, including healthcare, transportation, recreation, and other personal services. It is widely used by economists and policymakers to assess the health of the state's economy and consumer sentiment.
Methodology
The data is collected through surveys and estimates from the U.S. Bureau of Economic Analysis.
Historical Context
This trend provides valuable insights into consumer behavior and spending patterns that inform economic and fiscal policy decisions.
Key Facts
- Mississippi's services expenditures account for over 60% of total personal consumption.
- Services spending has grown faster than goods spending in Mississippi over the past decade.
- Healthcare is the largest component of services expenditures in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount spent by Mississippi households on a variety of services, including healthcare, transportation, recreation, and other personal services.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess the health of Mississippi's economy and consumer sentiment, as it provides valuable insights into consumer behavior and spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through surveys and estimates from the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend informs economic and fiscal policy decisions, as it provides valuable insights into consumer behavior and spending patterns in Mississippi.
Q: Are there update delays or limitations?
A: The data is subject to revision and may have some delays in reporting, as is common with economic statistics.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Mississippi (MSPCEHCE), retrieved from FRED.