Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for North Carolina
NCPCEPCFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,660.00
Year-over-Year Change
62.67%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on financial services and insurance in North Carolina. It provides insights into consumer spending patterns and the demand for financial products in the state.
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: Financial Services and Insurance for North Carolina trend reflects the average amount spent by North Carolina residents on financial services and insurance, such as banking, investment management, and insurance premiums. This metric is used by economists and policymakers to analyze consumer behavior and the health of the financial sector within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and other sources.
Historical Context
This trend is relevant for understanding the North Carolina economy and consumer financial trends, which can inform policy decisions and market analysis.
Key Facts
- North Carolina's per capita spending on financial services and insurance was $5,893 in 2021.
- This metric has grown by 4.2% annually on average over the past 10 years.
- Financial services account for the largest share of personal consumption expenditures in North Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by North Carolina residents on financial services and insurance, including banking, investment management, and insurance premiums.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the demand for financial products in North Carolina, which can inform economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and other sources.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the North Carolina economy and consumer financial trends, which can inform policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of several months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for North Carolina (NCPCEPCFININS), retrieved from FRED.