Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Rhode Island
Quarterly, Seasonally Adjusted Annual Rate
RIOTHSERVERQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,144.30
Year-over-Year Change
-7.31%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (RIOTHSERVERQGSP) measures the total revenue from providing food and beverage services on an annualized basis. This key economic indicator provides insights into consumer spending and the overall health of the service industry.
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 Quarterly, Seasonally Adjusted Annual Rate is a measure of the total revenue generated by food and beverage service establishments, such as restaurants, bars, and catering services. This annualized figure accounts for seasonal variations, offering a standardized metric to analyze trends in consumer demand and service industry performance.
Methodology
The data is collected through surveys of food and beverage service establishments and calculated on a quarterly basis by the U.S. Census Bureau.
Historical Context
This economic trend is closely monitored by policymakers, economists, and market analysts to gauge consumer confidence and the strength of the service sector.
Key Facts
- The service industry accounts for over 60% of the U.S. GDP.
- Food and beverage service establishments employ over 12 million people.
- Consumer spending on dining out has increased by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate (RIOTHSERVERQGSP) measures the total revenue generated by food and beverage service establishments, such as restaurants, bars, and catering services.
Q: Why is this trend relevant for users or analysts?
A: This economic indicator provides insights into consumer spending patterns and the overall health of the service industry, which is a crucial component of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of food and beverage service establishments and calculated on a quarterly basis by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this trend to gauge consumer confidence and the strength of the service sector, which can inform economic policies and business strategies.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical delay of 2-3 months after the end of the reference period.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (RIOTHSERVERQGSP), retrieved from FRED.