Personal Consumption Expenditures: Services: Food Services and Accommodations for North Carolina
NCPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,174.40
Year-over-Year Change
113.65%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures personal consumption expenditures on food services and accommodations in North Carolina. It provides insights into consumer spending patterns and the state's service sector activity.
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 North Carolina metric tracks consumer spending on meals away from home, hotel stays, and other hospitality services within the state. It is a key indicator of North Carolina's service industry performance and consumer confidence.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by economists, policymakers, and businesses to assess the health of North Carolina's service sector and consumer demand.
Key Facts
- North Carolina is a major tourist destination in the Southeast.
- The food services and accommodations sector accounts for a significant portion of the state's GDP.
- Consumer spending on dining and travel is a key indicator of economic confidence.
FAQs
Q: What does this economic trend measure?
A: This metric tracks personal consumption expenditures on food services and accommodations within the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into consumer spending patterns and the performance of North Carolina's service sector, which is crucial for assessing the state's economic health.
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: Economists and policymakers use this metric to evaluate consumer demand, gauge the strength of North Carolina's service industry, and inform economic policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent economic conditions.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for North Carolina (NCPCEFDSRVACCMD), retrieved from FRED.