Per Capita Personal Consumption Expenditures: Goods for Illinois
ILPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,503.00
Year-over-Year Change
67.58%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures (PCE) Goods measures the average amount spent by Illinois residents on goods. This metric provides insights into consumer spending patterns and economic activity 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
PCE Goods is a key indicator of consumer demand and overall economic health in Illinois. It tracks household spending on durable and nondurable goods, excluding services, to assess trends in discretionary and essential consumption.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level personal consumption expenditures and population estimates.
Historical Context
PCE Goods data is widely used by policymakers, economists, and market analysts to evaluate Illinois' economic performance and consumer confidence.
Key Facts
- Illinois PCE Goods per capita was $13,980 in 2021.
- Goods spending makes up about 35% of total personal consumption in Illinois.
- PCE Goods has grown at an average annual rate of 3.2% in Illinois over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average amount spent by Illinois residents on durable and nondurable goods, excluding services.
Q: Why is this trend relevant for users or analysts?
A: PCE Goods is a key indicator of consumer demand and overall economic health in Illinois, providing insights into discretionary and essential spending patterns.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using state-level personal consumption expenditures and population estimates.
Q: How is this trend used in economic policy?
A: PCE Goods data is widely used by policymakers, economists, and market analysts to evaluate Illinois' economic performance and consumer confidence.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for Illinois (ILPCEPCG), retrieved from FRED.