Per Capita Personal Consumption Expenditures: Services for Arkansas
ARPCEPCSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,464.00
Year-over-Year Change
64.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services for Arkansas' metric measures the average consumer spending on services within the state of Arkansas. This trend 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
This data series represents the per capita (per person) personal consumption expenditures on services in Arkansas. It captures household spending on items like healthcare, utilities, recreation, and other services, providing insight into consumer behavior and the overall state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic records.
Historical Context
Policymakers and analysts use this metric to assess the health of the Arkansas consumer economy and make informed decisions.
Key Facts
- Arkansas's per capita services spending was $26,537 in 2021.
- Services account for over 60% of personal consumption expenditures in Arkansas.
- This metric has shown steady growth over the past decade in the state.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average per person spending on services by consumers in the state of Arkansas, including healthcare, utilities, recreation, and other service-based expenditures.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the health of the Arkansas consumer economy and consumer demand for services, which is a key driver of overall economic activity in the state.
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 records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess consumer spending patterns and make informed decisions about economic policy, investment, and development in Arkansas.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for slight delays in reporting.
Related Trends
Real Gross Domestic Product: Administrative and Support Services (561) in Arkansas
ARADMINSUPRGSP
Estimate of Median Household Income for Arkansas
MHIAR05000A052NCEN
Gross Domestic Product: Ambulatory Health Care Services (621) in Arkansas
ARAMBHCNGSP
Transportation and Warehousing Earnings in Arkansas
ARETRA
Exports of Goods: Non-Manufactured Commodities for Arkansas
EXPNONAR
Deposits in Insured Commercial Nonmember Banks in Arkansas
X08TDCBNMBIAR
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services for Arkansas (ARPCEPCSRV), retrieved from FRED.