Personal Consumption Expenditures: Services: Recreation Services for North Carolina
NCPCESRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,320.70
Year-over-Year Change
93.33%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Recreation Services for North Carolina metric measures consumer spending on recreational services in the state. This data point is crucial for assessing consumer demand and economic health.
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 series tracks household expenditures on recreational services, including activities like sports, entertainment, and hobbies. It is a key indicator of North Carolina residents' discretionary spending and leisure habits.
Methodology
The data is collected through surveys of consumers and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this metric to gauge North Carolina's economic performance and consumer confidence.
Key Facts
- North Carolina recreation services spending reached a high of $34.2 billion in 2019.
- Recreational services account for about 5% of total personal consumption in North Carolina.
- The COVID-19 pandemic caused a 23% decline in North Carolina recreation services spending in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric tracks consumer spending on recreational services in the state of North Carolina, including activities like sports, entertainment, and hobbies.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for assessing consumer demand, economic health, and leisure habits in North Carolina.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumers and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to gauge North Carolina's economic performance and consumer confidence.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Recreation Services for North Carolina (NCPCESRECSRV), retrieved from FRED.