Per Capita Personal Consumption Expenditures: Total for Alabama
ALPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,529.00
Year-over-Year Change
56.68%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Total for Alabama metric measures the average level of consumer spending per person in the state. It is an important 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 data series tracks the total personal consumption expenditures for Alabama, divided by the state's population, to provide a per capita view of consumer spending. It is used by economists and policymakers to analyze household consumption patterns and gauge the overall health of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely watched by analysts to assess Alabama's economic performance and consumer confidence.
Key Facts
- Alabama's per capita personal consumption expenditures were $44,302 in 2021.
- Consumer spending accounts for over 60% of Alabama's gross state product.
- Personal consumption expenditures have grown by 3.2% annually in Alabama over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Consumption Expenditures: Total for Alabama metric measures the average level of consumer spending per person in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of economic activity and consumer demand in Alabama, providing insights into household consumption patterns and the overall health 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.
Q: How is this trend used in economic policy?
A: This metric is closely watched by analysts and policymakers to assess Alabama's economic performance and consumer confidence, which can inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the Bureau of Economic Analysis, with some potential for minor delays due to data collection and processing.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for Alabama (ALPCEPC), retrieved from FRED.