Personal Consumption Expenditures: Services: Food Services and Accommodations for South Carolina
SCPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,018.00
Year-over-Year Change
112.98%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food services and accommodations in South Carolina. It provides insights into consumer spending and the state's service sector 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
The Personal Consumption Expenditures: Services: Food Services and Accommodations for South Carolina metric tracks household spending on dining, hotels, and other hospitality services within the state. It is a key indicator of consumer demand and the performance of the service industry.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers use this metric to assess the strength of South Carolina's consumer-driven economy and the state's tourism and hospitality sectors.
Key Facts
- South Carolina is a popular tourist destination in the Southeastern U.S.
- The food services and accommodations sector accounts for a significant portion of the state's GDP.
- Consumer spending on dining and lodging is an important driver of economic growth in South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on food services and accommodations within the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and the performance of South Carolina's service sector, which is crucial for understanding the state's overall economic health.
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: Economists and policymakers use this metric to assess the strength of South Carolina's consumer-driven economy and the state's tourism and hospitality sectors, which are important for informing economic policies and strategies.
Q: Are there update delays or limitations?
A: There may be some delay in the data reporting, as it is collected through surveys and compiled by the government.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for South Carolina (SCPCEFDSRVACCMD), retrieved from FRED.