Per Capita Personal Consumption Expenditures: Services: Recreation Services for South Dakota
SDPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,072.00
Year-over-Year Change
64.58%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Recreation Services for South Dakota' metric tracks consumer spending on recreational services in South Dakota. It provides insights into the state's economic health and consumer behavior.
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 data series represents the average per capita spending by South Dakota residents on recreation-related services, including entertainment, leisure activities, and personal services. It is a key indicator of consumer demand and is used by policymakers and analysts to assess the state's economic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and other economic indicators.
Historical Context
This metric is valuable for understanding consumer spending patterns and gauging the overall health of South Dakota's service-based economy.
Key Facts
- South Dakota's per capita recreation services spending was $3,250 in 2020.
- Recreation services account for over 10% of total personal consumption in South Dakota.
- This metric has grown by an average of 4% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average per capita spending by South Dakota residents on recreation-related services, including entertainment, leisure activities, and personal services.
Q: Why is this trend relevant for users or analysts?
A: This data is valuable for understanding consumer spending patterns and assessing the overall health of South Dakota's service-based economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge consumer demand and the performance of South Dakota's service sector, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for South Dakota (SDPCEPCSRECSRV), retrieved from FRED.