Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Maine
MEPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,187.00
Year-over-Year Change
24.95%
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 Maine. 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 Maine metric tracks the average amount spent by Maine residents on clothing and footwear. This data is useful for analyzing consumer behavior and demand trends within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates.
Historical Context
This trend is valuable for policymakers, economists, and market analysts to understand consumer spending dynamics and make informed decisions.
Key Facts
- Maine's per capita clothing and footwear spending is $2,167 (2021 data).
- Clothing and footwear account for 3.6% of total personal consumption expenditures in Maine.
- Maine's per capita clothing and footwear spending is 3.2% lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Maine residents on nondurable goods, specifically clothing and footwear, per person.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and demand within the state of Maine, which is valuable for policymakers, economists, and market analysts.
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 income and population estimates.
Q: How is this trend used in economic policy?
A: This trend can inform economic policy decisions by providing insights into consumer behavior and demand trends within the state of Maine.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some delays in availability.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Maine (MEPCEPCCLTH), retrieved from FRED.