Personal Consumption Expenditures: Services: Other Services for Wisconsin
WIPCEOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,565.90
Year-over-Year Change
55.71%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Services: Other Services for Wisconsin measures household spending on a variety of services, excluding healthcare, housing, and utilities. This metric provides insights into the state's service-sector economic activity.
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 metric represents Wisconsin residents' consumption of diverse services, such as personal care, legal, and financial services. It is a key indicator of consumer demand and an important measure of the state's economic performance.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to gauge Wisconsin's economic health and consumer confidence.
Key Facts
- Other services account for approximately 10% of total personal consumption in Wisconsin.
- The metric has shown steady growth since the Great Recession, indicating a strengthening service sector.
- Wisconsin's other services spending is typically higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Services: Other Services for Wisconsin measures household spending on a variety of services, excluding healthcare, housing, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the state's service-sector economic activity and consumer demand, which are important indicators of Wisconsin's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge Wisconsin's economic health and consumer confidence, which can inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis, with occasional delays due to the survey process.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Other Services for Wisconsin (WIPCEOSRV), retrieved from FRED.