Per Capita Personal Consumption Expenditures: Services: Other Services for District of Columbia
DCPCEPCOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,661.00
Year-over-Year Change
49.24%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Services: Other Services for District of Columbia measures consumer spending on a wide range of services excluding healthcare and housing. It is an important 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 series tracks the average per-person expenditures on services such as personal care, legal services, and financial services in the District of Columbia. It provides insights into local consumer behavior and spending patterns.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the Personal Consumption Expenditures series.
Historical Context
This trend is used by economists and policymakers to assess the strength of the District of Columbia's service sector and consumer confidence.
Key Facts
- Spending on other services accounts for about 5% of total personal consumption in DC.
- The trend has shown steady growth over the past decade.
- Services spending tends to be less volatile than goods consumption.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per-person spending on a wide range of services, excluding healthcare and housing, by residents of the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer behavior and demand for services in the DC area, which is an important driver of the local economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the Personal Consumption Expenditures series.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the strength of the District of Columbia's service sector and consumer confidence, which can inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Other Services for District of Columbia (DCPCEPCOSRV), retrieved from FRED.