Chain-Type Quantity Index for Real GDP: Accommodation and Food Services (72) in Minnesota
Annual, Not Seasonally Adjusted
MNACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.53
Year-over-Year Change
9.18%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' economic trend measures the total value of consumer expenditures in the United States. This key indicator provides insights into the overall health and direction of the U.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
This economic series tracks the aggregated spending by households on goods and services in the U.S. It is a comprehensive measure of consumer demand, a critical driver of economic growth and activity.
Methodology
The data is collected through consumer surveys and other statistical sources by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts closely monitor consumer spending trends to assess the economic climate and inform decisions.
Key Facts
- Consumer spending accounts for over two-thirds of U.S. economic activity.
- The trend has shown steady growth over the past decade.
- Fluctuations in consumer spending can signal changes in consumer confidence.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of consumer expenditures on goods and services in the United States, providing a comprehensive gauge of household spending.
Q: Why is this trend relevant for users or analysts?
A: Consumer spending is a critical driver of economic growth, so this metric is closely watched by policymakers, economists, and market analysts to assess the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and other statistical sources by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and institutions monitor consumer spending trends to inform decisions on monetary policy, fiscal policy, and other measures aimed at promoting economic growth and stability.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MNACCFDQGSP), retrieved from FRED.