Consumer Unit Characteristics: Age of Reference Person by Region: Residence in the Midwest Census Region
CXU980020LB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52.00
Year-over-Year Change
6.12%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the age distribution of reference persons in consumer units residing in the Midwest Census Region. It provides insights into demographic shifts and consumer behavior patterns in a key U.S. geographic area.
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 'Age of Reference Person by Region: Residence in the Midwest Census Region' metric tracks the breakdown of consumer unit reference persons by age group within the Midwest region. This data is valuable for understanding regional differences in consumer spending, saving, and other economic activities.
Methodology
The data is collected through the U.S. Consumer Expenditure Survey, a comprehensive household survey conducted by the Bureau of Labor Statistics.
Historical Context
Policymakers and market analysts use this trend to gauge regional economic conditions and consumer dynamics.
Key Facts
- The Midwest Census Region includes 12 states in the central U.S.
- Reference persons aged 45-54 make up the largest share of consumer units in the Midwest.
- Consumer spending patterns vary significantly by the age of the reference person.
FAQs
Q: What does this economic trend measure?
A: This trend measures the age distribution of reference persons in consumer units residing in the Midwest Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into demographic shifts and consumer behavior patterns in a key U.S. geographic region, which is useful for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Consumer Expenditure Survey, a comprehensive household survey conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to gauge regional economic conditions and consumer dynamics in the Midwest Census Region.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and potential limitations of the underlying Consumer Expenditure Survey.
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Citation
U.S. Federal Reserve, Consumer Unit Characteristics: Age of Reference Person by Region: Residence in the Midwest Census Region (CXU980020LB1103M), retrieved from FRED.