Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for South Carolina
SCPCEHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
164,570.50
Year-over-Year Change
84.76%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for South Carolina' trend measures household spending on services in South Carolina. This data provides insights into consumer behavior and demand within the state's economy.
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 economic indicator tracks the value of services consumed by households in South Carolina, including categories like healthcare, recreation, and transportation. It is a key component of overall personal consumption expenditures and can inform policymakers and analysts about consumer spending patterns and economic conditions in the state.
Methodology
The data is collected through household surveys and other sources by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in household service expenditures are closely monitored by economists and policymakers to assess the health of the consumer sector and broader economic activity.
Key Facts
- South Carolina's household service expenditures totaled $146.3 billion in 2021.
- Service spending accounts for over 60% of total personal consumption in South Carolina.
- Healthcare is the largest component of household service expenditures in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of services consumed by households in South Carolina, including categories like healthcare, recreation, and transportation.
Q: Why is this trend relevant for users or analysts?
A: Trends in household service expenditures are closely monitored to assess consumer behavior and the overall health of the state's 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: Policymakers and economists use this data to understand consumer spending patterns and inform decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for South Carolina (SCPCEHCE), retrieved from FRED.