Personal Consumption Expenditures: Goods for Massachusetts
MAPCEG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136,918.10
Year-over-Year Change
60.37%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods for Massachusetts trend measures consumer spending on goods in the state of Massachusetts. This metric 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 series tracks personal consumption expenditures on goods, which includes spending on durable and nondurable goods by Massachusetts residents. It is an important measure of the overall health of the state's economy and consumer confidence.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers use this metric to assess the strength of consumer demand and make informed decisions.
Key Facts
- Massachusetts accounts for approximately 2.5% of total U.S. personal consumption expenditures.
- Goods spending makes up around 70% of total personal consumption in Massachusetts.
- Consumer spending on goods has grown by an average of 3.2% annually in Massachusetts over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Goods for Massachusetts trend measures consumer spending on goods in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of the overall health of the Massachusetts economy and consumer confidence in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the strength of consumer demand and make informed decisions about the Massachusetts economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods for Massachusetts (MAPCEG), retrieved from FRED.