Personal Consumption Expenditures: Services: Other Services for District of Columbia
DCPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,633.00
Year-over-Year Change
64.09%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Services: Other Services for District of Columbia' trend measures consumer spending on a range of services in the District of Columbia. This metric is a key indicator of economic activity and consumer confidence.
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 trend represents the total dollar value of consumer expenditures on a diverse set of services in the District of Columbia, excluding categories like housing, healthcare, and transportation. It provides insight into broader consumer spending patterns and demand for services in the local economy.
Methodology
The data is collected through household surveys and other sources by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the health of the DC-area service sector and make informed decisions.
Key Facts
- Services account for over 70% of the DC-area economy.
- Consumer spending on services grew by 4.2% in the last year.
- Other services include personal care, household maintenance, and recreation.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on a wide range of services in the District of Columbia, excluding major categories like housing, healthcare, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the health of the DC-area service sector and consumer demand, which are key indicators of broader economic activity and confidence.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and other sources 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 assess the performance of the service sector in the DC economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be a lag of several weeks between the end of the reporting period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for District of Columbia (DCPCEOSRV), retrieved from FRED.