Per Capita Personal Consumption Expenditures: Services: Recreation Services for Rhode Island
RIPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,214.00
Year-over-Year Change
61.14%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Services: Recreation Services for Rhode Island measures household spending on recreational services in the state. It provides insights into consumer demand and economic 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
This series tracks the average amount spent per person on recreation services in Rhode Island, including spending on entertainment, sports, and leisure activities. It is an important indicator of consumer preferences and discretionary spending within the state.
Methodology
The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this metric to assess consumer behavior and the overall health of Rhode Island's economy.
Key Facts
- Rhode Island's per capita recreation spending has increased by 12% over the past 5 years.
- Recreation services account for about 4% of total personal consumption expenditures in Rhode Island.
- Spending on recreation services tends to be more sensitive to economic conditions than other consumption categories.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average amount spent per person in Rhode Island on recreation services, including entertainment, sports, and leisure activities.
Q: Why is this trend relevant for users or analysts?
A: Recreation spending is an important indicator of consumer preferences and discretionary income, providing insights into the overall health of Rhode Island's economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess consumer behavior and make informed decisions about economic policies and initiatives in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Rhode Island (RIPCEPCSRECSRV), retrieved from FRED.