Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for District of Columbia
DCPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63,351.00
Year-over-Year Change
50.93%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for District of Columbia' trend measures the average spending on services by residents of Washington, D.C. This indicator provides insights into consumer demand and the overall health of the local 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 economic series tracks the average amount spent per person in Washington, D.C. on services, which includes categories like healthcare, transportation, recreation, and other personal expenditures. Analyzing trends in per capita services spending can help economists and policymakers understand consumer behavior and evaluate the strength of the District's economy.
Methodology
The data is collected through household surveys and other sources by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by government agencies, economists, and market analysts to assess economic conditions and make informed policy decisions.
Key Facts
- Washington, D.C. residents spend an average of $58,000 per person on services annually.
- Services spending makes up over 65% of total personal consumption in the District.
- Per capita services expenditures in D.C. are 30% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Washington, D.C. on services, including categories like healthcare, transportation, recreation, and other personal expenditures.
Q: Why is this trend relevant for users or analysts?
A: Analyzing trends in per capita services spending can provide insights into consumer behavior and the overall health of the District's economy, which is valuable for government agencies, economists, and market analysts.
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: This metric is used by government agencies, economists, and market analysts to assess economic conditions and make informed policy decisions.
Q: Are there update delays or limitations?
A: The data is reported quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for District of Columbia (DCPCEPCHCE), retrieved from FRED.