Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Rhode Island
RIPCEHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,657.70
Year-over-Year Change
60.69%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Rhode Island measures consumer spending on services in the state, providing insights into economic activity and consumer confidence.
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
This series represents the total dollar value of services consumed by households in Rhode Island, including categories like healthcare, housing, transportation, and recreation. It is a key indicator of economic well-being and helps policymakers and analysts understand consumer trends and the broader state economy.
Methodology
The data is collected through household surveys and other sources by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers monitor this metric to gauge consumer demand and inform fiscal and monetary policies.
Key Facts
- Measures total services spending by Rhode Island households.
- Provides insights into consumer confidence and economic activity.
- Data collected by the U.S. Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total dollar value of services consumed by households in Rhode Island, including categories like healthcare, housing, transportation, and recreation.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for understanding consumer demand, economic well-being, and broader trends in the Rhode Island economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and other sources by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to gauge consumer demand and inform fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, with typical update delays of several weeks.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Rhode Island (RIPCEHCE), retrieved from FRED.