Personal Consumption Expenditures: Services for North Carolina
NCPCESRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
349,853.40
Year-over-Year Change
85.29%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services for North Carolina measure consumer spending on services in the state. This key economic indicator provides insights into North Carolina's economic health and consumer demand.
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 data series tracks personal consumption expenditures (PCE) on services in North Carolina. Services include healthcare, education, recreation, and other non-goods spending by households. The PCE Services metric is widely used by economists and policymakers to assess consumer activity and overall economic conditions in the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and estimates.
Historical Context
The PCE Services trend is a crucial input for monitoring North Carolina's economic performance and guiding policy decisions.
Key Facts
- North Carolina's PCE Services spending reached $280 billion in 2022.
- Services account for over 60% of total personal consumption in North Carolina.
- Health care is the largest services category, making up 35% of total PCE Services.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services for North Carolina measures consumer spending on services, such as healthcare, education, and recreation, within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer demand and the overall health of North Carolina's economy, which is crucial for businesses, policymakers, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and estimates.
Q: How is this trend used in economic policy?
A: The PCE Services trend is used by economists and policymakers to monitor consumer activity and guide decisions related to economic policies, investments, and resource allocation in North Carolina.
Q: Are there update delays or limitations?
A: The PCE Services data for North Carolina is typically released with a 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services for North Carolina (NCPCESRV), retrieved from FRED.