Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Illinois
ILPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,694.00
Year-over-Year Change
45.78%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically clothing and footwear, for the state of Illinois. It provides insights into consumer spending patterns and can inform economic policy decisions.
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 Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Illinois series tracks the average amount spent by Illinois residents on clothing and footwear purchases. This metric is a key indicator of consumer demand and economic activity within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic data sources.
Historical Context
Policymakers and market analysts use this trend to assess the health of Illinois' retail sector and consumer confidence, which can inform decisions related to fiscal and monetary policy.
Key Facts
- Illinois per capita clothing and footwear spending reached a high of $2,235 in 2019.
- Nondurable goods account for over 30% of total personal consumption in Illinois.
- Clothing and footwear expenditures declined by 12% in Illinois during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Illinois residents on the purchase of clothing and footwear, a key component of nondurable goods consumption.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and retail activity within Illinois, which can inform economic policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic data sources.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess the health of Illinois' retail sector and consumer confidence, which can inform decisions related to fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a delay of several months. There may be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Illinois (ILPCEPCCLTH), retrieved from FRED.