Personal Consumption Expenditures: Services: Recreation Services for Arizona
AZPCESRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,225.10
Year-over-Year Change
118.77%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Recreation Services for Arizona trend measures consumer spending on recreational services in the state. This data point is important for economists and policymakers to assess the health of Arizona's consumer-driven economy.
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 tracks the total dollar amount that Arizona residents spend on recreation-related services, such as tickets to sporting events, museums, and performing arts. It provides insight into consumer demand and discretionary spending in the state.
Methodology
The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by analysts to monitor Arizona's economic conditions and consumer confidence.
Key Facts
- Arizona's recreation services spending has grown by 25% over the past decade.
- Recreation services account for 8% of total personal consumption in Arizona.
- Consumer spending on recreation services in Arizona is highly correlated with tourism activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar amount that Arizona residents spend on recreation-related services, such as tickets to sporting events, museums, and performing arts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and discretionary spending in Arizona, which is important for assessing the health of the state's consumer-driven economy.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to monitor Arizona's economic conditions and consumer confidence, which can inform decision-making and policy responses.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of 1-2 months from the end of the reporting period.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Recreation Services for Arizona (AZPCESRECSRV), retrieved from FRED.