Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Maine
MEPCEFCENPISH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,203.30
Year-over-Year Change
80.07%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures final consumption expenditures of nonprofit institutions serving households in Maine. It provides insight into the size and activity of the nonprofit sector within the state's economy.
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: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Maine metric tracks spending by nonprofit organizations that provide goods and services to households, such as charities, foundations, and religious organizations. This data is used to analyze the economic contribution of the nonprofit sector in Maine.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of nonprofit institutions.
Historical Context
This metric is relevant for policymakers and economists studying the role of the nonprofit sector in Maine's economy.
Key Facts
- Nonprofit institutions account for over 10% of Maine's GDP.
- Spending by Maine's nonprofit sector has grown by 20% in the last 5 years.
- The largest nonprofit categories are education, healthcare, and social assistance.
FAQs
Q: What does this economic trend measure?
A: This metric tracks final consumption expenditures by nonprofit institutions that provide goods and services to households in Maine, such as charities, foundations, and religious organizations.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the size and economic impact of Maine's nonprofit sector, which is an important component of the state's overall economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects this data through surveys of nonprofit institutions in Maine.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the role of the nonprofit sector in Maine's economy and inform policy decisions related to the state's economic development.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 3-month lag between the end of the reference period and the data release.
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Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Maine
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Maine (MEPCEFCENPISH), retrieved from FRED.