Total Revenue for formal Wear and Costume Rental, All Establishments, Employer Firms
This dataset tracks total revenue for formal wear and costume rental, all establishments, employer firms over time.
Latest Value
1019.00
Year-over-Year Change
72.42%
Date Range
1/1/1998 - 1/1/2022
Summary
This economic trend measures the total revenue for the formal wear and costume rental industry, including all employer firms. It provides insights into the performance and demand for these services across the United States.
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 total revenue for formal wear and costume rental measures the financial activity of businesses that rent out formal attire, such as wedding dresses, tuxedos, and costumes. This metric is a key indicator of consumer spending and demand in the fashion and entertainment sectors.
Methodology
The data is collected by the U.S. Census Bureau through annual surveys of employer firms in the formal wear and costume rental industry.
Historical Context
This trend is used by economists and policymakers to assess the health of the retail and entertainment industries and consumer confidence.
Key Facts
- The formal wear and costume rental industry generates billions in annual revenue.
- Revenue in this sector is sensitive to economic conditions and consumer confidence.
- The industry encompasses a wide range of rental services, from wedding attire to Halloween costumes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by businesses that rent out formal wear, such as wedding dresses and tuxedos, as well as costumes and other specialty attire.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and demand for fashion and entertainment services, which are important indicators of overall economic health.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through annual surveys of employer firms in the formal wear and costume rental industry.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the performance of the retail and entertainment sectors, as well as consumer confidence, which can inform economic policies and decisions.
Q: Are there update delays or limitations?
A: The data is published annually, with a slight delay, and may not capture the full scope of the industry, as it only includes employer firms.
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Citation
U.S. Federal Reserve, Total Revenue for Formal Wear and Costume Rental, All Establishments, Employer Firms (REVEF53222ALLEST), retrieved from FRED.