Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Illinois
ILPCECLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,259.50
Year-over-Year Change
41.96%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures personal consumption expenditures on nondurable goods, specifically clothing and footwear, for the state of Illinois. It provides insights into consumer spending patterns and trends within the state.
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 Illinois series tracks consumer spending on apparel and footwear products in the state. This data is used by economists and policymakers to assess the strength of consumer demand and the overall health of the Illinois economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic indicators.
Historical Context
This trend is closely monitored by businesses, investors, and policymakers to understand consumer behavior and inform economic decision-making.
Key Facts
- Illinois is the sixth-largest state economy in the U.S.
- Clothing and footwear account for a significant portion of consumer spending in Illinois.
- This trend is a leading indicator of the overall health of the Illinois retail sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on nondurable goods, specifically clothing and footwear, for the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the overall health of the Illinois economy, which is important for businesses, investors, and policymakers.
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 and other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to understand consumer behavior and inform economic decision-making in Illinois.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Illinois (ILPCECLTH), retrieved from FRED.