Per Capita Personal Consumption Expenditures: Services: Transportation Services for Pennsylvania
PAPCEPCTRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,580.00
Year-over-Year Change
62.38%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on transportation services in Pennsylvania. It is a key indicator of consumer spending and economic activity in the state.
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: Transportation Services for Pennsylvania series tracks household spending on transportation-related services, such as public transit, taxis, and air travel. This metric provides insight into consumer behavior and the overall health of Pennsylvania's service economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this trend to assess consumer demand and gauge the performance of Pennsylvania's transportation sector.
Key Facts
- Transportation services account for about 5% of total personal consumption expenditures in Pennsylvania.
- Per capita transportation services spending in Pennsylvania has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic caused a sharp decline in transportation services spending in Pennsylvania in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on transportation-related services, such as public transit, taxis, and air travel, in the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into consumer behavior and the overall health of Pennsylvania's service economy, which is crucial for policymakers and analysts to assess economic performance and consumer demand.
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 and analysts use this trend to assess consumer demand and gauge the performance of Pennsylvania's transportation sector, which is important for infrastructure planning and economic development.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Transportation Services for Pennsylvania (PAPCEPCTRANS), retrieved from FRED.