Personal Consumption Expenditures: Services for Alabama
ALPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141,986.80
Year-over-Year Change
67.32%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Alabama trend measures consumer spending on services within the state. This metric is a key indicator of economic activity and consumer demand.
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 Personal Consumption Expenditures: Services for Alabama series tracks inflation-adjusted consumer spending on services in the state. It is a component of the broader Personal Consumption Expenditures (PCE) index, which is a crucial measure of overall economic health and consumer behavior.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This state-level services spending metric is used by policymakers, analysts, and businesses to assess regional economic conditions and consumer trends.
Key Facts
- Alabama's services spending accounts for over 60% of total personal consumption.
- Services spending has grown by an average of 3% annually in Alabama over the past decade.
- The COVID-19 pandemic caused a sharp but temporary decline in Alabama's services expenditures.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Alabama series tracks inflation-adjusted consumer spending on services within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and economic conditions in Alabama, which is crucial information for policymakers, businesses, and economic analysts.
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 modeling.
Q: How is this trend used in economic policy?
A: State-level services spending data, like the ALPCESRV series, is used by policymakers and analysts to assess regional economic performance and guide policy decisions.
Q: Are there update delays or limitations?
A: The ALPCESRV data is published with a lag of several months, so it may not reflect the most current economic conditions in Alabama.
Related Trends
Gross Domestic Product: Paper Manufacturing (322) in Alabama
ALPAPMANNGSP
Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Alabama
ALPCEPCFCENPISH
Value of Exports to Jordan from Alabama
ALJORA052SCEN
Production or Nonsupervisory Employees: Manufacturing: Non-Durable Goods in Alabama
SMU01000003200000006
Coefficient for Transportation Carbon Dioxide Emissions, Lubricants for Alabama
EMISSCO2CLUACBALA
Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in Alabama
ALAMUSENGSP
Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Alabama (ALPCESRV), retrieved from FRED.