Personal Consumption Expenditures: Services: Recreation Services for Indiana
INPCESRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,355.70
Year-over-Year Change
72.94%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on recreation services in Indiana. It provides insights into consumer spending on activities like entertainment, sports, and leisure.
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 Personal Consumption Expenditures: Services: Recreation Services for Indiana trend represents the total dollar value of household spending on recreation-related services within the state. This metric is used by economists and policymakers to analyze consumer demand and assess the health of Indiana's leisure and hospitality sector.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding consumer behavior, forecasting economic growth, and informing state-level policy decisions.
Key Facts
- Recreation services account for over 3% of total consumer spending in Indiana.
- Spending on recreation services in Indiana has increased by 25% over the past decade.
- The COVID-19 pandemic led to a 30% decline in recreation services spending in Indiana in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of personal consumption expenditures on recreation-related services in the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand for leisure and entertainment activities, which is an important indicator of the health of Indiana's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand consumer behavior, forecast economic growth, and inform state-level policy decisions related to the leisure and hospitality sector.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Recreation Services for Indiana (INPCESRECSRV), retrieved from FRED.