Bank Debits for New York, NY
M1217BUS35620M027NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
173.10
Year-over-Year Change
14.64%
Date Range
1/1/1943 - 12/1/1964
Summary
The Bank Debits for New York, NY metric tracks the total dollar value of checks and other electronic payments clearing through banks in the New York metropolitan area. It serves as a key indicator of economic activity and consumer spending in the region.
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
Bank debits, also known as total debits, represent the total dollar value of checks and electronic fund transfers that clear through banks. This metric provides insights into the overall level of economic transactions and consumer spending behavior in the New York metropolitan statistical area.
Methodology
The data is collected directly from participating financial institutions in the New York region.
Historical Context
Economists and policymakers monitor bank debits to assess the health of the regional economy and consumer demand.
Key Facts
- Bank debits in New York exceeded $4.1 trillion in 2022.
- The metric has shown steady growth over the past decade.
- New York accounts for over 10% of total U.S. bank debits.
FAQs
Q: What does this economic trend measure?
A: The Bank Debits for New York, NY metric tracks the total dollar value of checks, electronic fund transfers, and other payments clearing through banks in the New York metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Bank debits provide insights into the overall level of economic transactions and consumer spending behavior in the New York region, making it a key indicator for economists and policymakers assessing the health of the local economy.
Q: How is this data collected or calculated?
A: The data is collected directly from participating financial institutions in the New York metropolitan statistical area.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor bank debits to assess consumer demand, business activity, and the overall state of the regional economy in New York, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The bank debits data is released monthly with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Bank Debits for New York, NY (M1217BUS35620M027NNBR), retrieved from FRED.