Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Illinois
ILPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,079.00
Year-over-Year Change
88.23%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food services and accommodations per capita in Illinois. It provides insights into consumer spending and the state's service sector 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
Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Illinois is a key indicator of consumer behavior and the overall economic health of the state. It tracks spending on dining, lodging, and other hospitality services by Illinois residents.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess Illinois' service industry performance and consumer confidence.
Key Facts
- Illinois' per capita spending on food services and accommodations was $4,700 in 2021.
- This trend declined by 20% in 2020 due to the COVID-19 pandemic.
- It has since rebounded, reaching pre-pandemic levels by 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on food services and accommodations per capita in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the overall health of Illinois' service sector, which is crucial for understanding the state's economic performance.
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 expenditure surveys.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess Illinois' service industry performance and consumer confidence, which informs economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: This data is typically released with a 2-3 month delay, and may be subject to revisions as more information becomes available.
Related Trends
Estimate of Related Children Age 5-17 in Families in Poverty for Illinois
PE5T17IL17000A647NCEN
Real Gross Domestic Product: Construction (23) in Illinois
ILCONSTRGSP
Chain-Type Quantity Index for Real GDP: Other Transportation and Support Activities (487-488, 492) in Illinois
ILOTHTRANQGSP
State Government Tax Collections, Total License Taxes in Illinois
ILTLLICTAX
Real Gross Domestic Product: State and Local in Illinois
ILGOVSLRGSP
State Government Tax Collections, Documentary and Stock Transfer Taxes in Illinois
ILDOCUTAX
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Illinois (ILPCEPCFDSRVACCMD), retrieved from FRED.