Personal Consumption Expenditures: Services for Wisconsin
WIPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
203,788.10
Year-over-Year Change
59.71%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Wisconsin metric tracks consumer spending on services within the state. It's a key indicator of economic activity and consumer confidence.
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 series measures household spending on services in Wisconsin, including categories like healthcare, recreation, and transportation. It provides insights into consumer demand and the overall health of the state's economy.
Methodology
The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess Wisconsin's economic performance and consumer trends.
Key Facts
- Wisconsin's services spending accounts for over 60% of total personal consumption.
- The metric has grown steadily over the past decade, reflecting a shift toward a service-based economy.
- Consumer spending on services is a crucial driver of Wisconsin's overall economic performance.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Wisconsin metric tracks household spending on services within the state, including healthcare, recreation, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer demand and the overall health of Wisconsin's economy, making it a key indicator for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys and compiled 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 trends, informing decisions related to fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule, but there may be lags or revisions due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Wisconsin (WIPCESRV), retrieved from FRED.