Per Capita Personal Consumption Expenditures: Services: Transportation Services for Rhode Island
RIPCEPCTRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,328.00
Year-over-Year Change
74.91%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Services: Transportation Services for Rhode Island measures spending on transportation services by Rhode Island residents. It is a key indicator of consumer demand and economic activity in 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
This series tracks personal consumption expenditures for transportation services, including items like airfare, vehicle rentals, and public transit. It provides insights into consumer behavior and the overall health of Rhode Island's economy.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess economic conditions and consumer trends in Rhode Island.
Key Facts
- Rhode Island's per capita transportation spending was $3,805 in 2021.
- Transportation services account for approximately 8% of total personal consumption in Rhode Island.
- Per capita transportation spending in Rhode Island is typically lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on transportation services by residents of Rhode Island, including items like airfare, vehicle rentals, and public transit.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and the overall health of Rhode Island's economy, making it a key indicator for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess economic conditions and consumer trends in Rhode Island, which can inform policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Transportation Services for Rhode Island (RIPCEPCTRANS), retrieved from FRED.