Personal Consumption Expenditures: Total for Alabama
ALPCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
227,475.00
Year-over-Year Change
66.32%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Total for Alabama metric measures the total consumer spending in the state. It is a key indicator of economic activity and consumer demand.
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 series represents the total dollar amount of personal consumption expenditures by Alabama residents. It is a widely tracked statistic used by economists and policymakers to analyze consumer trends and gauge the health of the state's economy.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to inform decisions around fiscal and monetary policy.
Key Facts
- Alabama's personal consumption expenditures totaled $219 billion in 2021.
- Consumer spending accounts for over 65% of Alabama's gross state product.
- The state saw a 7.2% increase in personal consumption expenditures from 2020 to 2021.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Total for Alabama metric measures the total dollar amount of consumer spending by Alabama residents.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic activity and consumer demand in Alabama, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and reported 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 inform decisions around fiscal and monetary policy, as it provides insights into consumer spending and the overall health of the Alabama economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Total for Alabama (ALPCE), retrieved from FRED.