Personal Consumption Expenditures: Services: Recreation Services for Pennsylvania
PAPCESRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,387.10
Year-over-Year Change
64.51%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures consumer spending on recreation services in Pennsylvania, providing insights into the state's service-based economy and consumer behavior.
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: Recreation Services for Pennsylvania metric tracks the total dollar value of consumer spending on recreational services, such as entertainment, cultural activities, and leisure pursuits within the state. This data is used by economists and policymakers to analyze Pennsylvania's service sector and consumer spending patterns.
Methodology
The data is collected through surveys and estimates by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for assessing the health of Pennsylvania's service-based economy and consumer confidence.
Key Facts
- Pennsylvania's recreation services spending totaled $38.2 billion in 2021.
- Recreation services account for 5.2% of total personal consumption expenditures in Pennsylvania.
- This metric has grown by 7.3% annually on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on recreation services in the state of Pennsylvania, including entertainment, cultural activities, and leisure pursuits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health of Pennsylvania's service-based economy and consumer confidence, which are important factors for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through surveys and estimates by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the performance of Pennsylvania's service sector and consumer spending patterns, which can inform economic policies and business decisions.
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, Personal Consumption Expenditures: Services: Recreation Services for Pennsylvania (PAPCESRECSRV), retrieved from FRED.