Expenditures: Personal Insurance and Pensions by Region: Residence in the Midwest Census Region
CXUINSPENSNLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,273.00
Year-over-Year Change
79.08%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures personal insurance and pension expenditures by individuals residing in the Midwest census region of the United States. It provides insights into the spending patterns and financial priorities of Midwestern households.
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: Personal Insurance and Pensions by Region: Residence in the Midwest Census Region data series tracks consumer spending on personal insurance and pension products in the Midwest region. This metric is useful for analyzing regional differences in household financial management and the role of insurance and retirement planning in Midwestern budgets.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is relevant for policymakers, economists, and financial institutions to understand regional variations in personal insurance and retirement savings.
Key Facts
- The Midwest region accounts for 21.7% of the U.S. population.
- Pension contributions make up the largest share of personal insurance and pension spending in the Midwest.
- Midwestern households allocate an average of 11.4% of their budgets to personal insurance and pensions.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal insurance and pension expenditures by individuals residing in the Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the financial priorities and spending patterns of Midwestern households, which is useful for policymakers, economists, and financial institutions.
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 relevant for understanding regional variations in personal insurance and retirement savings, which can inform policies and financial products targeting Midwestern consumers.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of approximately two months.
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Citation
U.S. Federal Reserve, Expenditures: Personal Insurance and Pensions by Region: Residence in the Midwest Census Region (CXUINSPENSNLB1103M), retrieved from FRED.