Personal Consumption Expenditures: Services: Food Services and Accommodations for Wisconsin
WIPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,712.90
Year-over-Year Change
84.99%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food services and accommodations in Wisconsin. It is an important 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: Food Services and Accommodations for Wisconsin measures household spending on dining, hotels, and other hospitality services within the state. This data provides insights into consumer demand and the health of the local service industry.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess Wisconsin's economic performance and consumer confidence.
Key Facts
- Wisconsin's food and accommodations spending accounted for 7.2% of total personal consumption in 2021.
- Spending in this sector declined by 15.4% in 2020 due to the COVID-19 pandemic.
- Food services and accommodations make up nearly 25% of Wisconsin's service industry GDP.
FAQs
Q: What does this economic trend measure?
A: This metric tracks personal consumption expenditures on food services and accommodations within the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer demand and the health of Wisconsin's service industry, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Wisconsin's economic performance and consumer confidence, which can inform policy decisions.
Q: Are there update delays or limitations?
A: There may be delays of several months in the release of this data by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for Wisconsin (WIPCEFDSRVACCMD), retrieved from FRED.