Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Wisconsin
WIPCEPCFDSRVACCMD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,335.00
Year-over-Year Change
78.82%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food services and accommodations per capita in Wisconsin. It provides insights into consumer spending and service sector activity 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: Food Services and Accommodations for Wisconsin metric tracks the average amount spent by Wisconsin residents on dining, lodging, and other service-based consumption. This data series is used by economists and policymakers to analyze consumer behavior and the performance of the state's service industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
This trend is relevant for understanding the strength of Wisconsin's consumer-facing sectors and the overall health of the state economy.
Key Facts
- Wisconsin's per capita spending on food services and accommodations was $5,400 in 2021.
- This metric has grown by over 20% in the past decade, outpacing the national average.
- Food services and accommodations account for over 10% of total personal consumption expenditures in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on food services and accommodations per capita in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the performance of Wisconsin's service sector, which is a key component of the state's economy.
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.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health of Wisconsin's consumer-facing industries and the overall state economy.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Food Services and Accommodations for Wisconsin (WIPCEPCFDSRVACCMD), retrieved from FRED.