Per Capita Personal Consumption Expenditures: Nondurable Goods for Mississippi
MSPCEPCNDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,868.00
Year-over-Year Change
45.82%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods in Mississippi. It provides insights into consumer spending patterns and is an important indicator of economic activity in 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
Per capita personal consumption expenditures on nondurable goods is a measure of the average amount spent by individuals in Mississippi on non-durable items such as food, clothing, and other consumable products. This statistic is used by economists and policymakers to analyze consumer demand and household spending behavior.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding the overall health of Mississippi's economy and consumer confidence.
Key Facts
- Mississippi's per capita nondurable goods spending was $16,723 in 2021.
- Nondurable goods account for over 50% of total personal consumption in Mississippi.
- Nondurable goods spending declined by 3.2% in Mississippi during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Mississippi on nondurable consumer goods, such as food, clothing, and other consumable products.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and household behavior in Mississippi, which is an important indicator of the state's overall economic health and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to understand consumer demand, monitor household spending, and inform policy decisions that can impact the economic well-being of Mississippi residents.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with some potential delays in publication. The trend may not capture all nondurable goods spending in the state.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods for Mississippi (MSPCEPCNDURG), retrieved from FRED.