Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Louisiana
LAPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,767.00
Year-over-Year Change
71.62%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on food services and accommodations in Louisiana. It provides insights into consumer spending patterns and the health of the state's service sector.
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: Food Services and Accommodations for Louisiana metric tracks the average amount spent by Louisiana residents on dining, lodging, and other related services. This data is used by economists and policymakers to analyze consumer behavior and the performance of the state's hospitality industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reporting.
Historical Context
This trend is relevant for understanding Louisiana's economic conditions and consumer sentiment, which can inform policy decisions and business strategies.
Key Facts
- Louisiana's per capita spending on food services and accommodations was $3,887 in 2021.
- This metric has grown by 3.2% annually on average over the past 10 years.
- The hospitality industry accounts for over 10% of Louisiana's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Louisiana on food services, such as restaurants, and accommodations, such as hotels and motels.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the health of Louisiana's hospitality and service sectors, which are important for the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reporting.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess consumer sentiment, the performance of the service sector, and the overall economic conditions in Louisiana, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay, 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: Food Services and Accommodations for Louisiana (LAPCEPCFDSRVACCMD), retrieved from FRED.