Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Washington
WAPCEPCHCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,982.00
Year-over-Year Change
67.53%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures per capita personal consumption expenditures for services in the state of Washington. It provides insights into consumer spending behavior and trends in the local 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 metric tracks the average amount spent by Washington residents on services, including healthcare, recreation, transportation, and other non-durable goods. This data is a key indicator of economic health and consumer confidence in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
This metric is widely used by policymakers, economists, and market analysts to assess consumer demand and make informed decisions.
Key Facts
- Washington's per capita services spending was $39,425 in 2021.
- Services account for over 60% of total personal consumption expenditures in Washington.
- Spending on healthcare services makes up the largest component of this metric.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average amount spent by residents of Washington state on services, including healthcare, recreation, and other non-durable goods.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer spending behavior and the overall health of the Washington economy, which is valuable for policymakers, economists, and market analysts.
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 income and population statistics for the state of Washington.
Q: How is this trend used in economic policy?
A: This metric is widely used by policymakers, economists, and market analysts to assess consumer demand and make informed decisions about economic policy and market conditions in Washington.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a lag of several months, so there may be some delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Household Consumption Expenditures for Services for Washington (WAPCEPCHCE), retrieved from FRED.