Per Capita Personal Consumption Expenditures: Services: Recreation Services for Utah
UTPCEPCSRECSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,999.00
Year-over-Year Change
87.70%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on recreation services in the state of Utah. It provides insights into consumer spending patterns and the state's service economy.
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: Recreation Services for Utah metric tracks the average amount spent by Utah residents on recreational services, such as entertainment, sports, and leisure activities. This data point is a key indicator of consumer demand and the overall health of the state's service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and economic records.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess consumer behavior and guide economic decision-making.
Key Facts
- Utah's per capita recreation services spending is higher than the national average.
- Recreation services account for a significant portion of Utah's service sector GDP.
- Trends in this metric can signal changes in consumer confidence and leisure preferences.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average amount spent by Utah residents on recreational services, such as entertainment, sports, and leisure activities.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into consumer spending patterns and the overall health of Utah's service economy, which is crucial for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and economic records.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess consumer behavior and guide economic decision-making, particularly in the service and recreation sectors.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, but there may be occasional delays or revisions due to the complexity of data collection and aggregation.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Recreation Services for Utah (UTPCEPCSRECSRV), retrieved from FRED.