Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Arizona
AZPCEHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
258,245.50
Year-over-Year Change
95.95%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Arizona tracks consumer spending on services within the state. This metric 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 measures the total dollar value of services consumed by households in Arizona. It is a component of the broader Personal Consumption Expenditures (PCE) index, which is a critical gauge of economic health and consumer spending trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic reports.
Historical Context
Policymakers and analysts use this series to assess the strength of the Arizona economy and consumer sector.
Key Facts
- Covers over 60% of total consumer spending in Arizona.
- Saw a sharp decline during the COVID-19 pandemic.
- Considered a leading indicator of broader economic trends.
FAQs
Q: What does this economic trend measure?
A: This series tracks household consumption expenditures for services in the state of Arizona, a key component of overall consumer spending.
Q: Why is this trend relevant for users or analysts?
A: Services spending is a critical indicator of economic health and consumer demand, making this series valuable for policymakers and analysts assessing the Arizona economy.
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 reports.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this series to gauge the strength of the Arizona consumer sector and broader economic conditions within the state.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with some potential for revision as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Arizona (AZPCEHCE), retrieved from FRED.