Expenditures: Dairy Products by Region: Residence in the Northeast Census Region
CXUDAIRYLB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
685.00
Year-over-Year Change
54.28%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures consumer expenditures on dairy products by individuals residing in the Northeastern region of the United States. It provides insights into regional consumption patterns 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
The Expenditures: Dairy Products by Region: Residence in the Northeast Census Region series tracks household spending on dairy items, such as milk, cheese, and yogurt, for consumers living in the Northeastern states. This data is useful for analyzing regional differences in consumer behavior and dairy product preferences.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is relevant for policymakers, market analysts, and businesses to understand regional variations in dairy consumption and make informed decisions.
Key Facts
- Dairy products account for about 5% of total household expenditures in the Northeast.
- Spending on dairy items in the Northeast is typically higher than the national average.
- Fluid milk and cheese are the largest components of dairy expenditures in the Northeast.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer expenditures on dairy products, such as milk, cheese, and yogurt, for individuals residing in the Northeastern region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into regional variations in dairy consumption patterns, which is useful for policymakers, market analysts, and businesses to understand consumer behavior and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry stakeholders to analyze regional differences in dairy consumption and inform decisions related to agricultural policy, product development, and marketing strategies.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule of the Consumer Expenditure Survey, which is conducted on an ongoing basis but may have a delay in publication.
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Citation
U.S. Federal Reserve, Expenditures: Dairy Products by Region: Residence in the Northeast Census Region (CXUDAIRYLB1102M), retrieved from FRED.