Per Capita Personal Consumption Expenditures: Services: Other Services for Wisconsin
WIPCEPCOSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,648.00
Year-over-Year Change
50.50%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Services: Other Services for Wisconsin' trend measures consumer spending on various services in Wisconsin, providing insight into the state's economic activity and consumer behavior.
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 economic indicator tracks personal consumption expenditures, which are a key component of gross domestic product (GDP). The 'Other Services' category includes a wide range of services such as personal care, funeral expenses, and pet care, offering a comprehensive view of Wisconsin's service-based economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess the overall health and consumer confidence in Wisconsin's economy.
Key Facts
- Wisconsin's per capita other services expenditures were $4,324 in 2021.
- This trend has seen a steady increase over the past decade, reflecting growth in Wisconsin's service-based economy.
- Other services account for approximately 15% of total personal consumption expenditures in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: The 'Per Capita Personal Consumption Expenditures: Services: Other Services for Wisconsin' trend measures consumer spending on a wide range of services in the state, including personal care, funeral expenses, and pet care.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the health and consumer confidence of Wisconsin's service-based economy, which is a key component of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess the overall health and consumer confidence in Wisconsin's economy, which can inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and there may be occasional revisions to previous data points.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Other Services for Wisconsin (WIPCEPCOSRV), retrieved from FRED.