Gross Domestic Product: Professional, Scientific, and Technical Services (54) in Delaware
Annual, Not Seasonally Adjusted
DEPROSCITCHNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,421.70
Year-over-Year Change
36.88%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' series measures the change in domestic purchases of consumer durable goods, nondurable goods, and services by U.S. households and nonprofit institutions. This metric is a key indicator of overall consumer spending and economic activity.
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 tracks the year-over-year percentage change in personal consumption expenditures, which account for over two-thirds of U.S. gross domestic product. It is widely monitored by economists, policymakers, and market analysts to gauge consumer demand and the health of the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of household spending.
Historical Context
Trends in personal consumption expenditures are used to inform monetary and fiscal policy decisions.
Key Facts
- Consumer spending accounts for over two-thirds of U.S. GDP.
- The 'Annual, Not Seasonally Adjusted' series measures year-over-year change.
- Trends in this metric inform economic policy and market analysis.
FAQs
Q: What does this economic trend measure?
A: This series tracks the year-over-year percentage change in personal consumption expenditures by U.S. households and nonprofit institutions.
Q: Why is this trend relevant for users or analysts?
A: As consumer spending accounts for a large portion of GDP, this metric is a key indicator of overall economic activity and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of household spending.
Q: How is this trend used in economic policy?
A: Trends in personal consumption expenditures are used to inform monetary and fiscal policy decisions by policymakers and central banks.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (DEPROSCITCHNGSP), retrieved from FRED.