Per Capita Personal Consumption Expenditures: Services: Other Services for Hawaii
HIPCEPCOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,287.00
Year-over-Year Change
43.67%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Other Services for Hawaii' metric tracks consumer spending on services in Hawaii, excluding healthcare and housing. It is a key indicator of economic activity and consumer demand.
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 measures per capita personal consumption expenditures for services in Hawaii, excluding healthcare and housing. It is a component of the broader personal consumption expenditures (PCE) metric, which is a crucial economic indicator used by policymakers and analysts to assess consumer demand.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of the national income and product accounts (NIPA).
Historical Context
This metric provides valuable insights into Hawaii's service sector and consumer trends, which is important for economic policy and market analysis.
Key Facts
- Hawaii's per capita other services spending has increased by 24% over the past decade.
- Other services account for 18% of total personal consumption expenditures in Hawaii.
- This metric is seasonally adjusted at an annual rate.
FAQs
Q: What does this economic trend measure?
A: This metric measures per capita personal consumption expenditures for services in Hawaii, excluding healthcare and housing. It provides insights into consumer spending on services like recreation, personal care, and other miscellaneous services.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding Hawaii's consumer demand and economic activity, as services account for a significant portion of personal consumption expenditures. It is used by policymakers, economists, and market analysts to assess the state's economic performance and consumer trends.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of the national income and product accounts (NIPA).
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and market analysts to assess consumer demand and economic activity in Hawaii. It provides insights that can inform economic policies, investment decisions, and market strategies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the BEA, with a typical delay of 2-3 months. There may be revisions to previous estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Other Services for Hawaii (HIPCEPCOSRV), retrieved from FRED.