Per Capita Personal Consumption Expenditures: Goods for Alabama
ALPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,735.00
Year-over-Year Change
55.14%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on goods in Alabama. It provides insights into consumer spending and demand within 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 (PCE) on goods is an important economic indicator that tracks the average amount spent by Alabama residents on physical products. It offers valuable data on consumer behavior and can inform policy decisions and market analysis.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and retail sales figures.
Historical Context
This metric is widely used by economists, businesses, and policymakers to monitor Alabama's economic conditions and consumer trends.
Key Facts
- Alabama's per capita PCE on goods was $15,234 in 2021.
- Goods account for about 60% of total personal consumption expenditures in Alabama.
- Per capita PCE on goods has grown by 3.2% annually in Alabama over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person by Alabama residents on physical goods and products.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer demand and spending patterns in Alabama, which is crucial for businesses, policymakers, and economists analyzing the state's economic conditions.
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 surveys and retail sales figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to monitor consumer behavior and spending in Alabama, which can inform decisions related to fiscal and monetary policy, taxation, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a lag of several months. There may be revisions to previously published figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for Alabama (ALPCEPCG), retrieved from FRED.