Personal Consumption Expenditures: Services: Food Services and Accommodations for Delaware
DEPCEFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,377.80
Year-over-Year Change
93.79%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures for food services and accommodations in Delaware. It provides insights into consumer spending patterns and the state's service sector activity.
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 Personal Consumption Expenditures: Services: Food Services and Accommodations for Delaware series tracks consumer spending on food, beverages, and lodging services within the state. It is a key indicator of economic conditions and consumer confidence.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys of businesses and households.
Historical Context
This metric is used by policymakers, analysts, and businesses to gauge the health of Delaware's service industry and consumer demand.
Key Facts
- Delaware's food services and accommodations sector accounts for over 10% of its total personal consumption expenditures.
- Spending on food services and accommodations has grown by 25% in Delaware over the past decade.
- The COVID-19 pandemic caused a sharp 30% decline in this spending metric in 2020 before a gradual recovery.
FAQs
Q: What does this economic trend measure?
A: This metric tracks personal consumption expenditures for food services and accommodations within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into consumer spending patterns and the health of Delaware's service sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys of businesses and households.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses use this metric to gauge consumer demand and the performance of Delaware's service industry, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Food Services and Accommodations for Delaware (DEPCEFDSRVACCMD), retrieved from FRED.