Revenue for Food Services and Drinking Places, All Establishments, Employer Firms
FSADPRAEEF1722 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
957,444.00
Year-over-Year Change
80.14%
Date Range
1/1/2013 - 1/1/2022
Summary
This economic indicator tracks revenue for the food services and drinking places industry, including all employer firms. It provides insights into consumer spending on dining and drinking, an important component of the broader service sector.
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 revenue for food services and drinking places metric measures the total sales and receipts generated by establishments in the food service and drinking places industry, which includes restaurants, bars, cafes, and other eateries. This data helps economists and policymakers assess consumer demand and the health of the service economy.
Methodology
The data is collected through monthly surveys of employer firms in the industry by the U.S. Census Bureau.
Historical Context
This metric is widely used by analysts to gauge consumer confidence and spending patterns, which are key inputs for economic policy decisions.
Key Facts
- Food services and drinking places account for over $800 billion in annual revenue.
- The industry employs over 12 million workers in the U.S.
- Revenue in this sector declined sharply during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total sales and receipts generated by food service and drinking establishments, including restaurants, bars, and cafes.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into consumer spending patterns and the overall health of the service sector, which is a key driver of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employer firms in the food services and drinking places industry by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Analysts and policymakers closely monitor this metric to gauge consumer confidence and spending, which are crucial inputs for economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a slight lag in reporting to allow for data collection and processing.
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Citation
U.S. Federal Reserve, Revenue for Food Services and Drinking Places, All Establishments, Employer Firms (FSADPRAEEF1722), retrieved from FRED.