Per Capita Personal Consumption Expenditures: Services for District of Columbia
DCPCEPCSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66,239.00
Year-over-Year Change
54.09%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures the per capita personal consumption expenditures on services in the District of Columbia. It provides insights into the spending patterns and economic activity of D.C. residents.
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
Per capita personal consumption expenditures on services is a key metric used by economists to analyze consumer demand and the health of the local economy. It tracks the average amount spent by individuals in D.C. on services such as healthcare, housing, transportation, and recreation.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by policymakers and analysts to understand consumer behavior and guide economic policies.
Key Facts
- D.C. residents spend more on services than the national average.
- Services account for over 70% of personal consumption in the District.
- The services sector is a major driver of the D.C. economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by individuals in the District of Columbia on personal consumption of services, such as healthcare, housing, and recreation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer spending patterns and the health of the services sector in the D.C. economy, which is a key driver of economic activity in the region.
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 closely monitor this trend to understand consumer behavior and guide economic policies that affect the services sector and overall economic activity in the District of Columbia.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services for District of Columbia (DCPCEPCSRV), retrieved from FRED.