Personal Consumption Expenditures: Services: Transportation Services for Arkansas
ARPCETRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,031.50
Year-over-Year Change
99.65%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Transportation Services for Arkansas trend measures consumer spending on transportation services in the state. This data 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 series represents the dollar amount of personal consumption expenditures for transportation services in Arkansas. It is a component of the broader personal consumption expenditures (PCE) metric, which is a primary measure of consumer spending in the U.S. economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers closely monitor transportation services spending to gauge consumer confidence and the overall health of the state's economy.
Key Facts
- Transportation services account for about 6% of total personal consumption in Arkansas.
- Spending on transportation services has increased by 25% in Arkansas over the past decade.
- The COVID-19 pandemic caused a temporary 15% decline in transportation services expenditures in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on transportation services in the state of Arkansas, such as public transit, taxis, and other passenger transport.
Q: Why is this trend relevant for users or analysts?
A: Transportation services spending is an important indicator of consumer demand and overall economic activity in Arkansas. It provides insights into consumer behavior and confidence.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor transportation services spending to gauge consumer confidence and the overall health of the state's economy, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months. There may be revisions to previously reported figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Transportation Services for Arkansas (ARPCETRANS), retrieved from FRED.