Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Arkansas
ARPCEPCFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,928.00
Year-over-Year Change
87.32%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on financial services and insurance in Arkansas. It provides insights into consumer spending patterns and the health of the state's financial services industry.
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: Financial Services and Insurance for Arkansas measures household spending on financial services and insurance products within the state. This metric is a key indicator of consumer demand and the performance of the financial sector.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic accounts.
Historical Context
Policymakers and analysts use this trend to assess the financial health and consumer behavior in Arkansas.
Key Facts
- Arkansas's per capita spending on financial services and insurance was $4,798 in 2021.
- This trend has grown by 4.2% annually over the past 5 years.
- Financial services and insurance account for 8.1% of total personal consumption in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on financial services and insurance products within the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand for financial services and the performance of Arkansas's financial sector, which is important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the financial health and consumer behavior in Arkansas, which can inform economic development strategies and financial regulations.
Q: Are there update delays or limitations?
A: There may be a 3-6 month delay in data availability, and the trend only covers the state of Arkansas, not the entire U.S.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Arkansas (ARPCEPCFININS), retrieved from FRED.