Personal Consumption Expenditures: Goods for Arizona
AZPCEG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135,295.00
Year-over-Year Change
97.68%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods for Arizona measure the total inflation-adjusted consumer spending on goods within the state. 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 value of consumer purchases of physical goods in Arizona, adjusted for inflation. It is a component of the broader Personal Consumption Expenditures (PCE) index, a widely-used gauge of household spending that informs economic and policy decisions.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess the health of Arizona's consumer economy and make informed decisions.
Key Facts
- Arizona's PCE Goods spending reached a record high in 2021.
- Consumer spending on goods accounts for over 50% of total PCE in Arizona.
- The PCE Goods index is adjusted for inflation to provide a real-terms measure.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total inflation-adjusted consumer spending on physical goods within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: The PCE Goods for Arizona is a key indicator of consumer demand and economic activity in the state, informing decisions by policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses 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 assess the health of Arizona's consumer economy and make informed decisions about fiscal and monetary policy.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the PCE Goods for Arizona is reported on a quarterly basis by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods for Arizona (AZPCEG), retrieved from FRED.