Per Capita Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for Minnesota
MNPCEPCGAS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,576.00
Year-over-Year Change
-5.63%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically gasoline and other energy goods, in the state of Minnesota. It provides insights into consumer spending patterns and energy consumption within the state.
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: Gasoline and Other Energy Goods for Minnesota metric tracks the average spending by Minnesota residents on gasoline and other energy-related nondurable goods. This data is used by economists and policymakers to analyze consumer behavior, energy demand, and the impact of energy prices on the state's economy.
Methodology
The data is collected through surveys and reported by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding energy consumption patterns, consumer spending, and the effects of energy price fluctuations on the Minnesota economy.
Key Facts
- Minnesota's per capita spending on gasoline and energy goods was $2,185 in 2021.
- Gasoline and energy goods account for 6.2% of total personal consumption expenditures in Minnesota.
- Per capita consumption of gasoline and energy goods in Minnesota has declined by 10% since 2015.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per capita spending by Minnesota residents on nondurable goods, specifically gasoline and other energy-related products.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns, energy consumption, and the impact of energy prices on the Minnesota economy, which is valuable information for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reported by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand energy demand, consumer behavior, and the effects of energy price changes on the Minnesota economy, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, but there may be some delays in reporting. The metric is limited to the state of Minnesota and does not provide a national-level comparison.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for Minnesota (MNPCEPCGAS), retrieved from FRED.