Real Sectoral Output for Other Services (Except Public Administration): Personal Care Services (NAICS 8121) in the United States
IPUUN8121T011000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.90
Year-over-Year Change
111.90%
Date Range
1/1/1988 - 1/1/2022
Summary
This economic trend measures the real output of the personal care services sector in the United States, which includes businesses like hair salons, nail salons, and other personal grooming services. It is an important indicator of activity and demand in the 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 Real Sectoral Output for Other Services (Except Public Administration): Personal Care Services (NAICS 8121) in the United States tracks the volume of goods and services produced by this specific economic sector, adjusted for inflation. It provides insights into the health and productivity of this segment of the services industry.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on surveys and production reports from businesses in the personal care services industry.
Historical Context
This trend is closely monitored by economists and policymakers to assess the state of the services economy and consumer demand.
Key Facts
- Personal care services account for over 1 million jobs in the U.S.
- The sector generates over $50 billion in annual revenue.
- Growth in personal care services is closely tied to consumer confidence.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output, or volume of goods and services produced, by the personal care services sector in the United States. It covers businesses like hair salons, nail salons, and other personal grooming services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and productivity of the personal care services industry, which is an important segment of the broader services economy. It is closely watched by economists and policymakers to assess consumer demand and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on surveys and production reports from businesses in the personal care services industry.
Q: How is this trend used in economic policy?
A: Trends in personal care services output are used by economists and policymakers to monitor the state of the services economy and consumer spending patterns, which are important considerations for economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the latest data, as it is dependent on survey responses and reporting from businesses in the sector.
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Citation
U.S. Federal Reserve, Real Sectoral Output for Other Services (Except Public Administration): Personal Care Services (NAICS 8121) in the United States (IPUUN8121T011000000), retrieved from FRED.