Per Capita Personal Consumption Expenditures: Services: Recreation Services for Alabama
ALPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,342.00
Year-over-Year Change
66.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures per capita personal consumption expenditures on recreation services in Alabama. It provides insights into consumer spending patterns and trends in the state's service economy.
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 on recreation services metric tracks Alabama residents' spending on recreational activities and services. This data point is used by economists and policymakers to analyze consumer behavior, assess the state's service industry, and evaluate economic conditions.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding Alabama's consumer demand, service sector performance, and overall economic health.
Key Facts
- Alabama's per capita recreation services spending was $2,462 in 2021.
- Recreation services account for approximately 4% of total personal consumption expenditures in Alabama.
- Spending on recreation services has grown by 7.2% in Alabama over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on recreation services in the state of Alabama. It tracks Alabama residents' spending on various recreational activities and services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer behavior, the performance of Alabama's service sector, and the overall economic conditions in the state. It is useful for economists, policymakers, and businesses to analyze and understand consumer spending patterns in the recreation industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to assess consumer demand, evaluate the state's service sector performance, and monitor Alabama's overall economic health and conditions.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly by the U.S. Bureau of Economic Analysis, with a lag of several months. There may be occasional revisions to previously reported figures.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Alabama (ALPCEPCSRECSRV), retrieved from FRED.