Per Capita Personal Consumption Expenditures: Nondurable Goods for Hawaii
HIPCEPCNDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,010.00
Year-over-Year Change
44.23%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures: Nondurable Goods for Hawaii measures the average per-person spending on nondurable consumer goods by residents of Hawaii. It is a key indicator of economic activity 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
This metric tracks the average consumption of nondurable goods like food, clothing, and fuel by Hawaiian residents on a per-capita basis. It provides insight into consumer behavior and can inform economic forecasting and policy decisions.
Methodology
The data is collected through household surveys and aggregated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this trend to assess the economic health and spending patterns of Hawaiian consumers.
Key Facts
- Hawaii's per capita nondurable spending was $16,700 in 2021.
- Nondurable goods account for over 60% of personal consumption in Hawaii.
- Nondurable consumption has grown by 3.2% annually in Hawaii over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average per-person spending on nondurable consumer goods by residents of Hawaii, including categories like food, clothing, and fuel.
Q: Why is this trend relevant for users or analysts?
A: Monitoring Hawaii's nondurable goods consumption provides insight into consumer behavior and spending patterns, which are important indicators of the state's economic health and can inform forecasting and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and aggregated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the economic health and spending patterns of Hawaiian consumers, which can inform decisions related to taxation, government programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: There may be a several-month delay in the availability of the most recent data, and the accuracy of the estimates may be affected by sampling and methodological factors.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods for Hawaii (HIPCEPCNDURG), retrieved from FRED.