Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Connecticut
CTPCEPCFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,474.00
Year-over-Year Change
51.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically food and beverages purchased for off-premises consumption in Connecticut. It provides insights into consumer spending and demand patterns 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
The Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Connecticut trend represents the average amount spent per person on these essential household items in the state. This metric is useful for analyzing consumer behavior and the overall economic health of Connecticut.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic indicators.
Historical Context
This trend is relevant for policymakers, businesses, and market analysts to understand consumer spending patterns and make informed decisions.
Key Facts
- Connecticut's per capita spending on food and beverages for off-premises consumption was $4,291 in 2021.
- This trend has shown a steady increase over the past decade, reflecting changes in consumer habits and preferences.
- Nondurable goods, including food and beverages, account for a significant portion of personal consumption expenditures in Connecticut.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Connecticut on nondurable goods, specifically food and beverages purchased for off-premises consumption.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the overall economic health of Connecticut, which is valuable for policymakers, businesses, 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 using personal consumption expenditure surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to understand consumer behavior and make informed decisions about economic policies, investments, and business strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the U.S. Bureau of Economic Analysis, and there may be some delays in the availability of the most recent information.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Connecticut (CTPCEPCFOOD), retrieved from FRED.