Personal Consumption Expenditures: Services: Other Services for South Dakota
SDPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,476.20
Year-over-Year Change
54.82%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Other Services for South Dakota measures household spending on a variety of services in the state. This data is important for economists and policymakers to understand consumer behavior and the broader service sector of 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 personal consumption expenditures for a range of services in South Dakota, excluding healthcare, housing, and utilities. It provides insights into consumer demand and the service industry's performance within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys of households and businesses.
Historical Context
Policymakers and analysts use this data to assess the overall health of South Dakota's economy and consumer sector.
Key Facts
- South Dakota's other services expenditures account for approximately 10% of total personal consumption.
- Other services include personal care, dry cleaning, and repair and maintenance.
- Spending on other services has grown by 20% in South Dakota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks household spending on a variety of services in South Dakota, excluding healthcare, housing, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer demand and the performance of South Dakota's service industry, which is important for understanding the broader state economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data through surveys of households and businesses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the overall health of South Dakota's consumer sector and make informed decisions about the state's economic policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for South Dakota (SDPCEOSRV), retrieved from FRED.