Per Capita Personal Consumption Expenditures: Services: Recreation Services for Pennsylvania
PAPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,036.00
Year-over-Year Change
62.10%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures per capita personal consumption expenditures on recreation services in Pennsylvania. It provides insights into consumer spending patterns and leisure activities within 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
Per capita personal consumption expenditures on recreation services in Pennsylvania is a measure of household spending on activities like sports, entertainment, and travel. It reflects the economic well-being and discretionary income of Pennsylvania residents.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of consumer spending.
Historical Context
This trend is used by economists and policymakers to analyze consumer behavior and gauge the strength of Pennsylvania's service-based economy.
Key Facts
- Pennsylvania's per capita recreation spending was $2,537 in 2021.
- Recreation services account for 3.2% of total personal consumption in Pennsylvania.
- Per capita recreation spending in Pennsylvania has grown by 7.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This indicator measures per capita personal consumption expenditures on recreation services in the state of Pennsylvania, including spending on entertainment, sports, and leisure activities.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the discretionary spending and economic well-being of Pennsylvania residents, as well as the strength of the state's service-based recreation industry.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of consumer spending in Pennsylvania.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to analyze consumer behavior, gauge the strength of Pennsylvania's service sector, and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Pennsylvania (PAPCEPCSRECSRV), retrieved from FRED.