Expenditures: Residential Phone Service, VOIP, and Phone Cards by Region: Residence in the Midwest Census Region
CXURESPHONELB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.00
Year-over-Year Change
-62.80%
Date Range
1/1/2013 - 1/1/2023
Summary
This economic trend measures residential expenditures on phone service, VOIP, and phone cards in the Midwest U.S. census region. It provides insights into consumer spending patterns in this important sector of the 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
The Expenditures: Residential Phone Service, VOIP, and Phone Cards by Region: Residence in the Midwest Census Region data series tracks consumer spending on various telecommunications services within the Midwest region. This metric is valuable for analyzing regional differences in household technology and communications budgets.
Methodology
The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is used by policymakers, market analysts, and industry stakeholders to understand regional variations in telecommunications spending and consumer behavior.
Key Facts
- The Midwest region accounts for approximately 21% of total U.S. residential telecommunications expenditures.
- Spending on VOIP services has increased by over 50% in the Midwest region since 2015.
- Per capita residential phone service expenditures in the Midwest are 8% lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures residential expenditures on phone service, VOIP, and phone cards specifically within the Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into regional consumer spending patterns in the telecommunications sector, which is important for market analysis, policymaking, and understanding household budgets.
Q: How is this data collected or calculated?
A: The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, regulators, and industry stakeholders to monitor regional variations in telecommunications consumption and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may not capture the most recent economic conditions.
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Citation
U.S. Federal Reserve, Expenditures: Residential Phone Service, VOIP, and Phone Cards by Region: Residence in the Midwest Census Region (CXURESPHONELB1103M), retrieved from FRED.