Personal Consumption Expenditures: Services: Financial Services and Insurance for Nebraska
NEPCEFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,708.70
Year-over-Year Change
73.21%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on financial services and insurance in Nebraska. It provides insights into consumer spending patterns and the health of the state's financial 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 Personal Consumption Expenditures: Services: Financial Services and Insurance for Nebraska (NEPCEFININS) series tracks household spending on a range of financial services, including banking, investment management, and insurance. This metric is a key indicator of economic activity and consumer confidence within Nebraska.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely monitored by policymakers, financial institutions, and market analysts to assess the state's economic performance and consumer trends.
Key Facts
- Nebraska's financial services and insurance expenditures account for approximately 8% of the state's total personal consumption.
- Consumer spending on financial services and insurance has grown by 15% in Nebraska over the past 5 years.
- The COVID-19 pandemic led to a temporary decline in Nebraska's financial services and insurance expenditures in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on financial services and insurance within the state of Nebraska.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the health of Nebraska's financial sector, which is crucial for assessing the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, financial institutions, and market analysts closely monitor this metric to evaluate the state's economic conditions and consumer trends.
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 by the statistical agency.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Financial Services and Insurance for Nebraska (NEPCEFININS), retrieved from FRED.