Personal Consumption Expenditures: Total for Arizona
AZPCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
400,704.50
Year-over-Year Change
96.83%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Total for Arizona' trend measures the total value of consumer spending within the state of Arizona. This metric 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 value of goods and services purchased by Arizona residents, including both durable and non-durable goods as well as services. It is a widely tracked indicator used by economists and policymakers to assess the health and trajectory of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reports.
Historical Context
Personal consumption expenditures are a critical component of gross domestic product (GDP) and provide insight into consumer confidence and spending patterns.
Key Facts
- Arizona's personal consumption expenditures totaled $353 billion in 2021.
- Consumer spending accounts for over 60% of Arizona's gross state product.
- Durable goods purchases make up around 20% of total personal consumption in Arizona.
FAQs
Q: What does this economic trend measure?
A: The 'Personal Consumption Expenditures: Total for Arizona' metric measures the total dollar value of goods and services purchased by consumers within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the strength of consumer demand and overall economic activity within Arizona, making it a valuable tool for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reports.
Q: How is this trend used in economic policy?
A: Personal consumption expenditures are a key component of GDP and are closely monitored by policymakers and central banks to assess the health of the economy and guide policy decisions.
Q: Are there update delays or limitations?
A: The personal consumption expenditures data for Arizona is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Total for Arizona (AZPCE), retrieved from FRED.