Personal Consumption Expenditures: Services: Transportation Services for Alabama
ALPCETRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,482.90
Year-over-Year Change
73.14%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Transportation Services for Alabama measures consumer spending on transportation services within the state. It is an important 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
This series tracks household expenditures on various transportation services, including public transit, taxis, and other for-hire transportation. It provides insights into consumer behavior and the health of the local services sector.
Methodology
The data is collected through household surveys by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the strength of consumer spending and Alabama's transportation industry.
Key Facts
- Transportation services account for a significant portion of household budgets.
- Alabama's transportation sector is a key driver of the state's economy.
- Trends in this metric can signal changes in consumer confidence and spending patterns.
FAQs
Q: What does this economic trend measure?
A: This metric tracks consumer spending on various transportation services, including public transit, taxis, and other for-hire transportation in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer behavior and the health of Alabama's transportation services sector, which is an important part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys 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 the strength of consumer spending and the transportation industry in Alabama.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, but may be subject to revisions and can have a short lag time.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Transportation Services for Alabama (ALPCETRANS), retrieved from FRED.