Per Capita Personal Consumption Expenditures: Services: Other Services for Arkansas
ARPCEPCOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,122.00
Year-over-Year Change
43.21%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Other Services for Arkansas' trend measures consumer spending on services in Arkansas, excluding healthcare and housing. This metric provides insights into the economic health and consumer behavior 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
This economic indicator tracks personal consumption expenditures per capita for services other than healthcare and housing in the state of Arkansas. It offers a granular view of consumer activity and can be used to analyze regional economic trends and consumer preferences.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Policymakers and analysts use this metric to evaluate the strength of the Arkansas economy and consumer demand for services.
Key Facts
- Arkansas' per capita personal consumption expenditures on other services was $4,932 in 2021.
- This metric has grown by an average of 3.2% annually over the past 10 years in Arkansas.
- Services such as personal care, maintenance, and repair make up the 'other services' category.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures per capita for services other than healthcare and housing in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior and the strength of the service sector in the Arkansas economy, which is valuable for policymakers and economic 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 administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the overall health of the Arkansas economy and consumer demand for services, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Other Services for Arkansas (ARPCEPCOSRV), retrieved from FRED.