Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Great Lakes BEA Region
GLAKPCEPCFCENPISH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,358.00
Year-over-Year Change
59.11%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures for services provided by nonprofit institutions serving households in the Great Lakes region of the United States. It is a key indicator of regional consumer demand and economic 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 Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Great Lakes BEA Region metric tracks spending on services from organizations like charities, religious groups, and other non-profit entities that serve households in the Great Lakes states.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional economic accounts.
Historical Context
This metric is used by policymakers and analysts to gauge the health and growth of the service sector in the Great Lakes economy.
Key Facts
- The Great Lakes region includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
- Nonprofit institutions account for over 5% of GDP in the Great Lakes states.
- This metric has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks per capita spending on services provided by nonprofit organizations that serve households in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into consumer demand and the health of the service sector in the Great Lakes 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 their regional economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the strength of the service economy and consumer activity in the Great Lakes region.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
Related Trends
Gross Domestic Product: Retail Trade (44-45) in the Great Lakes BEA Region
GLAKRETAILNGSP
Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in the Great Lakes BEA Region
GLAKOTHSERVENQGSP
Real Gross Domestic Product: Plastics and Rubber Products Manufacturing (326) in the Great Lakes BEA Region
GLAKPLASRUBMANRGSP
Gross Domestic Product: Professional, Scientific, and Technical Services (54) in the Great Lakes BEA Region
GLAKPROBUSNQGSP
Personal Consumption Expenditures: Services: Recreation Services for Great Lakes BEA Region
GLAKPCESRECSRV
Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in the Great Lakes BEA Region
GLAKRETAILQQGSP
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Great Lakes BEA Region (GLAKPCEPCFCENPISH), retrieved from FRED.