Personal Consumption Expenditures: Services for Arizona
AZPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
265,409.50
Year-over-Year Change
96.40%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Arizona trend measures consumer spending on services in the state. It 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 metric tracks the total dollar value of services purchased by Arizona residents, including healthcare, housing, utilities, transportation, and recreation. It provides insight into the health of the state's consumer economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this indicator to assess Arizona's economic conditions and consumer trends.
Key Facts
- Arizona's services sector accounts for over 60% of the state's GDP.
- Consumer spending on services has grown steadily in Arizona over the past decade.
- Service expenditures tend to be less volatile than goods purchases.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Arizona trend tracks consumer spending on services within the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the health of Arizona's consumer economy and can help policymakers and businesses assess economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Arizona's economic performance and consumer trends.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Arizona (AZPCESRV), retrieved from FRED.