Personal Consumption Expenditures: Services for Delaware
DEPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,613.30
Year-over-Year Change
71.35%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for Delaware measures consumer spending on services in the state of Delaware. This economic indicator is crucial for understanding trends in household consumption and can inform policymakers and analysts about the state's economic health.
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 data series tracks the value of services purchased by Delaware residents, including healthcare, transportation, recreation, and other non-durable goods. It provides insights into consumer demand and is an important component of overall economic activity in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Historical Context
Policymakers and economists use this metric to assess the strength of Delaware's consumer market and make informed decisions about fiscal and monetary policies.
Key Facts
- Delaware's PCE services spending reached $39.4 billion in 2021.
- Services account for over 60% of total personal consumption in Delaware.
- The services sector is a major driver of Delaware's economy.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for Delaware measures the value of services purchased by consumers in the state, including healthcare, transportation, recreation, and other non-durable goods.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer demand and the strength of Delaware's services-based economy, which is crucial for policymakers and economists analyzing the state's economic health and making informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic models.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the strength of Delaware's consumer market and make informed decisions about fiscal and monetary policies that can impact the state's economic growth and development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a few months' delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for Delaware (DEPCESRV), retrieved from FRED.