Per Capita Personal Consumption Expenditures: Services: Other Services for Illinois
ILPCEPCOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,492.00
Year-over-Year Change
64.73%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures for services other than healthcare, housing, and utilities in the state of Illinois. It provides insights into consumer spending and the service sector of the Illinois economy.
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: Other Services for Illinois trend tracks consumer spending on a variety of service-based goods and activities, excluding major expenditure categories like healthcare, housing, and utilities. This metric is used by economists and policymakers to analyze patterns in consumer behavior and the overall health of the state's service industry.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic reporting.
Historical Context
Trends in this metric can inform policy decisions and provide context for analysts evaluating the Illinois economy.
Key Facts
- The series dates back to 1997.
- Other services include personal care, clothing services, and recreational activities.
- Spending on other services accounts for about 7% of total personal consumption in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures for services other than healthcare, housing, and utilities in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the overall health of the service sector in the Illinois economy, which is important for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic reporting.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform policy decisions and provide context for analysts evaluating the Illinois economy.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Other Services for Illinois (ILPCEPCOSRV), retrieved from FRED.