Personal Consumption Expenditures: Services for Mississippi
MSPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77,691.20
Year-over-Year Change
54.49%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Mississippi is an economic indicator that measures consumer spending on services in the state of Mississippi. It provides insights into the strength of the state's service sector 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 series tracks the total dollar amount spent by consumers in Mississippi on various services, such as healthcare, entertainment, and transportation. It is a key measure of economic activity and consumer confidence in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by policymakers and economists to assess the overall health of the Mississippi economy.
Key Facts
- Mississippi's service sector accounts for over 60% of the state's GDP.
- Consumer spending on services has grown by an average of 3% annually in Mississippi over the last decade.
- The COVID-19 pandemic led to a sharp decline in service sector spending in Mississippi in 2020.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Mississippi measures the total dollar amount spent by consumers in the state on various services, such as healthcare, entertainment, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the strength of Mississippi's service sector and consumer demand, which are key indicators of the state's overall economic health.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to assess the overall state of the Mississippi economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a delay of several months from the end of the reporting period.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Mississippi (MSPCESRV), retrieved from FRED.