Personal Consumption Expenditures: Total for North Carolina
NCPCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
553,487.40
Year-over-Year Change
89.09%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Total for North Carolina measures household spending in the state. It is a key indicator of economic activity and consumer demand.
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 metric tracks the total dollar value of all goods and services purchased by North Carolina residents, including durable and non-durable goods as well as services. It is a widely used barometer of the state's economic health and consumer confidence.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists closely monitor this indicator to assess North Carolina's economic performance and make informed decisions.
Key Facts
- North Carolina's personal consumption expenditures totaled $546 billion in 2021.
- Consumer spending accounts for over 65% of North Carolina's gross state product.
- Durable goods make up about 20% of total personal consumption expenditures in the state.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Total for North Carolina measures the total dollar value of all goods and services purchased by households in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer demand and economic activity in North Carolina, providing valuable insights for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this indicator to assess North Carolina's economic performance and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of about two months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Total for North Carolina (NCPCE), retrieved from FRED.