Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Arkansas
ARPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,974.00
Year-over-Year Change
62.05%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures for services in Arkansas. It provides insight into household spending behavior and consumer demand within the state.
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: Household Consumption Expenditures for Services for Arkansas trend tracks the average spending on services by Arkansas residents. It is a key indicator of economic activity and consumer confidence in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely monitored by policymakers and economists to assess the overall health of the Arkansas economy.
Key Facts
- Arkansas per capita services spending averaged $27,300 in 2021.
- Services make up over 60% of total personal consumption in Arkansas.
- This metric has grown by 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average spending on services by residents of Arkansas, providing insights into household consumption and consumer demand in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic health and consumer confidence in Arkansas, and is closely monitored by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated 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 overall state of the Arkansas economy and make informed decisions about economic policies and interventions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Arkansas (ARPCEPCHCE), retrieved from FRED.