Per Capita Personal Consumption Expenditures: Services for Wisconsin
WIPCEPCSRV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,476.00
Year-over-Year Change
54.37%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on services per capita in the state of Wisconsin. It is a key indicator of consumer demand and economic 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
Per Capita Personal Consumption Expenditures: Services for Wisconsin is a measure of the total value of services consumed by Wisconsin residents, divided by the state's population. It represents a crucial component of overall economic output and consumer spending patterns.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive personal consumption expenditures metrics.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess the health and trajectory of Wisconsin's consumer-driven economy.
Key Facts
- Wisconsin's per capita services spending was $38,700 in 2021.
- Services account for over 60% of total personal consumption in Wisconsin.
- Per capita services spending in Wisconsin has grown by 3.2% annually since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of services consumed by Wisconsin residents, divided by the state's population. It is a key indicator of consumer demand and economic activity in the services sector.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists, policymakers, and market analysts as it provides insight into the health and trajectory of Wisconsin's consumer-driven economy.
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 their comprehensive personal consumption expenditures metrics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and institutions to assess consumer demand, gauge the strength of the services sector, and inform economic and fiscal policy decisions affecting Wisconsin.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services for Wisconsin (WIPCEPCSRV), retrieved from FRED.