Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Wisconsin
WIPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,189.00
Year-over-Year Change
54.18%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures for services in Wisconsin. It provides insights into household spending patterns and consumer demand 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
Per capita personal consumption expenditures for services is an important economic indicator that tracks the average amount spent by Wisconsin residents on various service-based goods and activities, such as healthcare, education, recreation, and transportation.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reports.
Historical Context
This metric is widely used by policymakers, economists, and market analysts to assess consumer behavior and the overall health of Wisconsin's economy.
Key Facts
- Wisconsin's per capita personal consumption expenditures for services were $44,921 in 2021.
- This metric has grown by an average of 3.2% annually over the past decade.
- Services account for over 60% of total personal consumption in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person by Wisconsin residents on service-based goods and activities, such as healthcare, education, recreation, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into household spending patterns and consumer demand in Wisconsin, which is crucial for understanding the state's economic health and guiding policy decisions.
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 surveys and economic reports.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this metric to assess consumer behavior and the overall health of Wisconsin's economy, which informs decision-making and policy interventions.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reporting period. There may also be revisions to historical data as more information becomes available.
Related Trends
Retail Trade Earnings in Wisconsin
WIERET
All Employees: Professional and Business Services: Administrative and Support and Waste Management and Remediation Services in Wisconsin
SMU55000006056000001
Chain-Type Quantity Index for Real GDP: Miscellaneous Professional, Scientific, and Technical Services (5412-5414, 5416-5419) in Wisconsin
WIMISCPROQGSP
Arts, Entertainment and Recreation Earnings in Wisconsin
WIEART
Per Capita Personal Income in Wisconsin
WIPCPI
All Employees: Non-Durable Goods: Food Manufacturing in Wisconsin
SMU55000003231100001A
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Wisconsin (WIPCEPCHCE), retrieved from FRED.