Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Illinois
ILPCEPCFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,659.00
Year-over-Year Change
73.13%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on financial services and insurance in Illinois. It provides insights into consumer spending and the state's financial services 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
The Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Illinois tracks household spending on financial services and insurance products within the state. This metric is used by economists and policymakers to analyze consumer behavior and the health of the financial sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys of households and businesses.
Historical Context
This trend is relevant for understanding the economic conditions and consumer trends within Illinois and can inform policy decisions related to the financial services industry.
Key Facts
- Illinois is a major financial center in the Midwest.
- Consumer spending on financial services accounts for a significant portion of the state's economy.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on financial services and insurance products within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior and the health of Illinois' financial services industry, which is important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys of households and businesses.
Q: How is this trend used in economic policy?
A: This trend can inform policymakers about consumer spending patterns and the performance of the financial services industry, which can guide decisions related to regulation, taxation, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Illinois (ILPCEPCFININS), retrieved from FRED.