Personal Consumption Expenditures: Services: Transportation Services for Pennsylvania
PAPCETRANS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,474.00
Year-over-Year Change
64.81%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Transportation Services for Pennsylvania trend measures consumer spending on transportation services in the state of Pennsylvania. This data is a key indicator of economic activity 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 series tracks personal consumption expenditures for transportation services in Pennsylvania, including spending on air transportation, motor vehicle maintenance and repair, and public transportation. It provides insights into consumer behavior and broader economic conditions within the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through household surveys and other economic reporting.
Historical Context
Policymakers and analysts use this trend to understand regional economic performance and assess the impact of transportation policies.
Key Facts
- Transportation services account for over 10% of total personal consumption in Pennsylvania.
- The trend has shown steady growth since the early 2000s, with a brief decline during the Great Recession.
- Pennsylvania's transportation services sector is a major employer, accounting for over 200,000 jobs statewide.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on transportation services in the state of Pennsylvania, including air travel, motor vehicle maintenance, and public transit.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer behavior and the broader economic performance of Pennsylvania, which is critical for policymakers and businesses operating in the state.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects this data through household surveys and other economic reporting.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand regional economic conditions and assess the impact of transportation policies on consumer spending and economic activity.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Transportation Services for Pennsylvania (PAPCETRANS), retrieved from FRED.