Per Capita Personal Consumption Expenditures: Services: Transportation Services for West Virginia
WVPCEPCTRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
851.00
Year-over-Year Change
65.56%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Services: Transportation Services for West Virginia measures consumer spending on transportation services within 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
This economic indicator tracks the average expenditures per person in West Virginia on services related to transportation, such as public transit, taxis, and air travel. It provides insights into consumer behavior and spending patterns in the state's service economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by economists and policymakers to analyze consumer demand and the health of West Virginia's transportation services industry.
Key Facts
- West Virginia's per capita transportation services spending was $1,723 in 2021.
- Transportation services account for approximately 4% of total personal consumption expenditures in West Virginia.
- Spending on transportation services in West Virginia has grown by 23% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per person spending on transportation services, such as public transit, taxis, and air travel, by consumers in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior and spending patterns in West Virginia's service economy, which is useful for economists and policymakers analyzing regional economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess consumer demand and the health of West Virginia's transportation services industry, which can inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Transportation Services for West Virginia (WVPCEPCTRANS), retrieved from FRED.