Per Capita Personal Consumption Expenditures: Services: Other Services for Mississippi
MSPCEPCOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,728.00
Year-over-Year Change
46.20%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures per capita personal consumption expenditures on services in Mississippi, excluding healthcare, housing, and food services. It provides insights into consumer spending patterns and the service sector of the state's economy.
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: Services: Other Services for Mississippi metric tracks consumer spending on a variety of service-based industries, such as personal care, recreation, and financial services. This data is used by economists and policymakers to analyze trends in consumer behavior and the overall health of the state's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through household surveys and business reporting.
Historical Context
This metric is relevant for understanding the performance of Mississippi's service sector and can inform economic policies and business strategies.
Key Facts
- The data is reported on a quarterly basis.
- Services account for over 60% of Mississippi's GDP.
- Per capita spending on other services has grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks per capita personal consumption expenditures on services in Mississippi, excluding healthcare, housing, and food services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the performance of Mississippi's service sector, which is crucial for understanding the state's overall economic health.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through household surveys and business reporting.
Q: How is this trend used in economic policy?
A: This metric can inform economic policies and business strategies related to the service sector in Mississippi.
Q: Are there update delays or limitations?
A: The data is reported on a quarterly basis, with a typical 2-3 month delay in availability.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Other Services for Mississippi (MSPCEPCOSRV), retrieved from FRED.