Per Capita Personal Consumption Expenditures: Services: Transportation Services for Maine
MEPCEPCTRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,625.00
Year-over-Year Change
83.20%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures per capita personal consumption expenditures on transportation services for residents of Maine. It provides valuable insights into household spending patterns and consumer demand within 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
The Per Capita Personal Consumption Expenditures: Services: Transportation Services for Maine data series tracks the average amount spent by Maine residents on transportation-related services. This metric helps economists and policymakers understand consumer behavior and assess the health of the local economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This indicator is widely used to inform economic and transportation policy decisions in Maine.
Key Facts
- Maine residents spent an average of $3,892 on transportation services in 2021.
- Transportation services account for approximately 12% of total personal consumption expenditures in Maine.
- Per capita transportation spending in Maine has increased by 7.2% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Maine residents on transportation-related services, such as public transportation, taxis, and other personal mobility expenses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer behavior and the state of the local economy in Maine, which can inform transportation infrastructure investments and economic policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the Personal Consumption Expenditures (PCE) statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess transportation needs, consumer demand, and overall economic conditions in Maine, which can inform infrastructure investments, transportation policies, and broader economic 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 complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Transportation Services for Maine (MEPCEPCTRANS), retrieved from FRED.