Per Capita Personal Consumption Expenditures: Services: Recreation Services for Massachusetts
MAPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,788.00
Year-over-Year Change
62.38%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures for Recreation Services in Massachusetts measures consumer spending on entertainment and leisure activities. This metric provides insights into the economic health and consumer behavior of 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
This trend represents the average amount spent per person in Massachusetts on recreational services such as entertainment, sports, and leisure activities. It is a key indicator of consumer demand and a component of overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys.
Historical Context
Policymakers and economists monitor this trend to assess the financial well-being and spending patterns of Massachusetts residents.
Key Facts
- Massachusetts residents spent an average of $3,256 per person on recreation services in 2021.
- Recreation services account for approximately 5% of total personal consumption expenditures in Massachusetts.
- The COVID-19 pandemic led to a 15% decline in per capita recreation spending in Massachusetts in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Massachusetts on recreational services, including entertainment, sports, and leisure activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and the financial well-being of Massachusetts residents, which is important for policymakers and economists to monitor.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the economic health and spending patterns of Massachusetts residents, which can inform policy decisions and market analyses.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, but there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Massachusetts (MAPCEPCSRECSRV), retrieved from FRED.