Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Hawaii
HIPCECLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,162.00
Year-over-Year Change
28.85%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on nondurable goods, specifically clothing and footwear, in the state of Hawaii. It provides insights into consumer spending and demand patterns in this key economic sector.
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 Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Hawaii series represents the total dollar value of consumer purchases of non-durable clothing and footwear items within the state. This metric is used by economists and policymakers to analyze consumer behavior and spending trends in the Hawaiian retail market.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding the state of Hawaii's consumer economy and informing economic policies and business strategies.
Key Facts
- Hawaii's clothing and footwear spending accounts for over $3 billion annually.
- Clothing and footwear make up around 5% of total personal consumption in Hawaii.
- Spending on nondurable goods is a key indicator of consumer confidence in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on non-durable clothing and footwear goods in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and demand for retail goods in Hawaii, which is useful for economists, policymakers, and businesses operating in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to monitor the state of Hawaii's consumer economy and inform economic policies and business strategies.
Q: Are there update delays or limitations?
A: There may be update delays of several months, and the data may not capture all informal or cash-based transactions.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Hawaii (HIPCECLTH), retrieved from FRED.