Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Utah
UTPCEPCFININS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,680.00
Year-over-Year Change
81.82%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on financial services and insurance in the state of Utah. It provides insights into consumer spending patterns and the health of the financial services industry 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: Financial Services and Insurance for Utah metric tracks the average amount spent by Utah residents on financial services and insurance. It is a key indicator of consumer demand and the strength of the financial sector within the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic statistics.
Historical Context
This trend is widely used by economists, policymakers, and financial analysts to assess the economic conditions and consumer behavior in Utah.
Key Facts
- Utah's per capita financial services expenditures are above the national average.
- Consumer spending on financial services has grown steadily in Utah over the past decade.
- The financial services industry is a significant contributor to Utah's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Utah residents on financial services and insurance, providing insights into consumer spending patterns and the health of the financial sector in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of consumer demand and the strength of the financial services industry in Utah, making it important for economists, policymakers, and financial analysts to assess the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to understand consumer behavior and the financial services industry in Utah, which can inform economic policies and decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for delays in availability depending on the source.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Utah (UTPCEPCFININS), retrieved from FRED.