Per Capita Personal Consumption Expenditures: Services: Recreation Services for Hawaii
HIPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,405.00
Year-over-Year Change
63.16%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures per capita personal consumption expenditures on recreation services in Hawaii. It provides insights into consumer spending trends and the health of the state's leisure and hospitality industry.
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
Per capita personal consumption expenditures on recreation services is an economic indicator that tracks household spending on leisure activities like entertainment, hobbies, and travel within the state of Hawaii. It is used to assess consumer demand and the overall performance of the state's tourism-dependent economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditures and population estimates.
Historical Context
This trend is closely monitored by policymakers, businesses, and analysts to gauge the strength of Hawaii's consumer-driven economy.
Key Facts
- Hawaii's recreation services account for over 10% of total personal consumption expenditures.
- Recreation spending per capita in Hawaii is typically 20-30% higher than the national average.
- The COVID-19 pandemic led to a sharp decline in Hawaii's recreation services consumption in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on recreation services in the state of Hawaii, including spending on entertainment, hobbies, and travel.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and the health of Hawaii's tourism-dependent economy, which is heavily reliant on leisure and hospitality spending.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditures and population estimates for the state of Hawaii.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and analysts closely monitor this trend to gauge the strength of Hawaii's consumer-driven economy and make informed decisions about economic policy and investment.
Q: Are there update delays or limitations?
A: There may be a delay of several months in the release of this data, and the figures can be subject to revisions as more complete information becomes available.
Related Trends
Real Gross Domestic Product: Other Services (Except Government and Government Enterprises) (81) in Hawaii
HIOTHSERVERGSP
Average Hourly Earnings of Production Employees: Wholesale Trade in Hawaii
SMU15000004100000008
Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Hawaii
HIFNDTRSTNGSP
State Tax Collections: T27 Public Utilities License for Hawaii
QTAXT27QTAXCAT3HINO
Gross Domestic Product: Wholesale Trade (42) in Hawaii
HIWHOLENGSP
State Government Tax Collections, Total Taxes in Hawaii
HITOTLTAX
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Hawaii (HIPCEPCSRECSRV), retrieved from FRED.