Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for North Carolina
NCPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,708.00
Year-over-Year Change
90.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures for food services and accommodations in North Carolina. It provides insights into consumer spending patterns in 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 North Carolina metric tracks household spending on dining, lodging, and other hospitality services within the state. This data point is useful for evaluating the health of North Carolina's consumer-driven service economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys.
Historical Context
This trend is closely monitored by policymakers and businesses to assess North Carolina's economic performance and consumer confidence.
Key Facts
- North Carolina's per capita spending on food services and accommodations was $3,764 in 2021.
- This metric has grown by an average of 2.8% annually over the past 10 years.
- The state's food services and accommodations sector accounts for over 10% of its GDP.
FAQs
Q: What does this economic trend measure?
A: This metric tracks per capita personal consumption expenditures on food services and accommodations within the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insight into consumer spending patterns in North Carolina's service sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data using personal consumption expenditure surveys.
Q: How is this trend used in economic policy?
A: Policymakers and businesses closely monitor this metric to assess North Carolina's economic performance and consumer confidence.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for North Carolina (NCPCEPCFDSRVACCMD), retrieved from FRED.