Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Alabama
ALPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,301.00
Year-over-Year Change
37.96%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods for clothing and footwear in Alabama. It provides insight into consumer demand and spending patterns 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: Nondurable Goods: Clothing and Footwear for Alabama metric tracks the average amount spent per person in the state on non-durable clothing and footwear items. This data is a key indicator of consumer behavior and can inform economic forecasting and policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household survey information.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess consumer spending and gauge economic conditions in Alabama.
Key Facts
- Alabama's per capita clothing and footwear spending has averaged $1,500 over the past decade.
- Clothing and footwear make up approximately 5% of total personal consumption expenditures in Alabama.
- Spending on nondurable goods like clothing tends to be more responsive to changes in economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Alabama on non-durable clothing and footwear items as part of personal consumption expenditures.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into consumer demand and spending patterns in Alabama, which is useful for economic forecasting, market analysis, and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using household survey information.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and market analysts to assess consumer spending and gauge economic conditions in Alabama.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Alabama (ALPCEPCCLTH), retrieved from FRED.