Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for South Dakota
SDPCEPCFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,650.00
Year-over-Year Change
52.72%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on financial services and insurance in South Dakota. It provides insights into consumer spending and demand for these key services within 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
The Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for South Dakota series tracks household-level spending on financial services and insurance products in the state. This metric is used by economists and policymakers to assess consumer financial behavior and the health of the local services industry.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for analyzing consumer financial trends, forecasting industry demand, and informing economic policies in South Dakota.
Key Facts
- South Dakota's per capita financial services spending was $5,732 in 2021.
- This trend has grown at an average annual rate of 4.2% over the past decade.
- Financial services account for over 15% of total personal consumption in South Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on financial services and insurance products by households in South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand for financial services and the health of that industry within the South Dakota economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze consumer financial behavior and inform policies that impact the financial services industry in South Dakota.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month delay in the release of this data by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for South Dakota (SDPCEPCFININS), retrieved from FRED.