Per Capita Personal Consumption Expenditures: Services for Massachusetts
MAPCEPCSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49,545.00
Year-over-Year Change
62.76%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services for Massachusetts' trend measures the average household spending on services in the state of Massachusetts. It is a key indicator of consumer demand and economic activity.
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 metric tracks inflation-adjusted per capita expenditures on services by Massachusetts residents, including categories like healthcare, housing, recreation, and transportation. It provides insight into consumer preferences and spending power in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis from household survey responses and economic indicators.
Historical Context
This trend is used by policymakers, market analysts, and economists to assess the health and outlook of the Massachusetts economy.
Key Facts
- Peaked at $29,845 in Q4 2019 before the COVID-19 pandemic
- Declined by 6.4% in 2020 due to lockdowns and reduced consumer activity
- Rebounded to $27,831 in Q4 2021 as the economy recovered
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person by Massachusetts residents on services, including healthcare, housing, recreation, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and spending power in Massachusetts, which is an important indicator of the state's economic health and outlook.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis from household survey responses and economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers, market analysts, and economists use this trend to assess the Massachusetts economy and consumer spending patterns, which can inform policy decisions and market forecasts.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months, so the most recent data may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services for Massachusetts (MAPCEPCSRV), retrieved from FRED.