Personal Consumption Expenditures: Total for Hawaii
HIPCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
83,403.50
Year-over-Year Change
67.54%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures (PCE) index for Hawaii measures consumer spending on goods and services in the state. It provides important insights into the strength of the local economy.
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 PCE index for Hawaii is a key indicator of economic activity and consumer demand. It tracks household spending on durable goods, non-durable goods, and services, offering a comprehensive view of consumption patterns in the state.
Methodology
The data is collected through surveys of businesses and households in Hawaii.
Historical Context
Policymakers and analysts use the Hawaii PCE index to assess the health of the local economy and consumer confidence.
Key Facts
- Hawaii's PCE index reached a record high in 2019.
- Consumer spending accounts for over 60% of Hawaii's GDP.
- The PCE index is a more comprehensive measure than retail sales.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures (PCE) index for Hawaii measures consumer spending on goods and services in the state.
Q: Why is this trend relevant for users or analysts?
A: The Hawaii PCE index provides important insights into the strength of the local economy and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households in Hawaii.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Hawaii PCE index to assess the health of the local economy and consumer confidence.
Q: Are there update delays or limitations?
A: The Hawaii PCE index is updated regularly, but there may be some delays in data reporting.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Total for Hawaii (HIPCE), retrieved from FRED.