Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Alabama
ALPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,178.00
Year-over-Year Change
58.26%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures per capita personal consumption expenditures on services in Alabama. It provides insights into consumer spending patterns and the state's economic activity.
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 Per Capita Personal Consumption Expenditures: Services for Alabama is a key metric that tracks the average household spending on services within the state. It is a valuable gauge of consumer demand and an important input for economic analysis and policymaking.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by economists, policymakers, and market analysts to assess the health of Alabama's economy.
Key Facts
- Alabama's per capita personal consumption expenditures on services was $36,291 in 2021.
- This metric has grown by an average of 4.2% annually over the past decade.
- Services account for over 60% of total personal consumption in Alabama.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average per capita spending by Alabama households on services, which includes categories like healthcare, housing, transportation, and recreation.
Q: Why is this trend relevant for users or analysts?
A: The per capita personal consumption expenditures on services is a key gauge of consumer demand and economic activity within Alabama. It provides insights into household spending patterns and the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the Personal Consumption Expenditures (PCE) series.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess consumer spending, gauge inflationary pressures, and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Alabama (ALPCEPCHCE), retrieved from FRED.