Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Montana
MTPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,287.00
Year-over-Year Change
65.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on services in Montana. It provides insights into consumer spending patterns and the state's service sector 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
The Per Capita Personal Consumption Expenditures: Services for Montana tracks household spending on a wide range of services, including healthcare, transportation, recreation, and other personal services. This metric offers valuable data for analyzing the state's economic conditions and consumer behavior.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and economic accounts.
Historical Context
Policymakers and analysts use this trend to assess the strength of Montana's service-based economy and consumer demand.
Key Facts
- Montana's per capita services spending was $35,721 in 2021.
- Services account for over 60% of Montana's total personal consumption expenditures.
- The state's per capita services spending has grown by 3.2% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on services in the state of Montana, providing insights into consumer spending patterns and the state's service sector activity.
Q: Why is this trend relevant for users or analysts?
A: This metric offers valuable data for analyzing the strength of Montana's service-based economy and consumer demand, which is crucial for policymakers and economists assessing the state's economic conditions.
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 and economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the strength of Montana's service-based economy and consumer demand, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Montana (MTPCEPCHCE), retrieved from FRED.