Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for North Carolina
NCPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,195.00
Year-over-Year Change
65.31%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on services 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 Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for North Carolina is a key indicator of consumer demand and economic performance in the state. It tracks the average amount spent per person on services, offering valuable data for policymakers and analysts.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by economists and policymakers to gauge the health of North Carolina's economy and consumer market.
Key Facts
- North Carolina's per capita services spending was $36,798 in 2021.
- Services account for over 60% of North Carolina's gross state product.
- The trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in North Carolina on services, including categories like healthcare, education, recreation, and other personal services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer behavior and the performance of North Carolina's service sector, which is a significant driver of the state's economy.
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 health of North Carolina's consumer market and make informed decisions about economic policy and development.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for North Carolina (NCPCEPCHCE), retrieved from FRED.