Personal Consumption Expenditures: Services: Other Services for Tennessee
TNPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,538.70
Year-over-Year Change
79.04%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on other services in Tennessee. It is a key indicator of consumer spending and economic activity in 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 Personal Consumption Expenditures: Services: Other Services for Tennessee metric tracks household spending on a diverse range of services, excluding healthcare, housing, and utilities. It provides insights into broader consumer demand and the service sector in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on consumer surveys and economic reporting.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to assess the strength of Tennessee's consumer-driven economy.
Key Facts
- Tennessee's other services spending totaled $29.7 billion in 2021.
- This category accounts for 11.7% of total personal consumption in the state.
- Other services include personal care, dry cleaning, and household maintenance.
FAQs
Q: What does this economic trend measure?
A: This metric tracks household spending on a variety of services in Tennessee, excluding healthcare, housing, and utilities.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into broader consumer demand and the health of Tennessee's service sector 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 consumer surveys and economic reporting.
Q: How is this trend used in economic policy?
A: It is closely monitored by policymakers, analysts, and businesses to assess the strength of Tennessee's consumer-driven economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for Tennessee (TNPCEOSRV), retrieved from FRED.