Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Indiana
INPCEPCFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,107.00
Year-over-Year Change
70.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on financial services and insurance in the state of Indiana. It provides insight into consumer spending patterns and the strength of the financial services industry in the state.
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 Indiana metric tracks the average amount spent by Indiana residents on financial services and insurance. This data is used by economists and policymakers to assess the financial health and consumer behavior within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using consumer spending surveys and economic modeling.
Historical Context
This trend is relevant for understanding the dynamics of Indiana's financial services sector and consumer confidence.
Key Facts
- Indiana's per capita financial services spending was $4,752 in 2021.
- Financial services account for over 5% of Indiana's total personal consumption expenditures.
- Indiana's per capita financial services spending has grown by 25% since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Indiana residents on financial services and insurance, providing insight into consumer behavior and the financial services industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This data is used by economists and policymakers to assess the financial health and consumer confidence within Indiana, which is important for understanding the state's economic dynamics.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data using consumer spending surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the strength of Indiana's financial services sector and consumer spending patterns, which can inform economic and financial policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a slight delay due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Indiana (INPCEPCFININS), retrieved from FRED.