Per Capita Personal Consumption Expenditures: Total for North Carolina
NCPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,081.00
Year-over-Year Change
68.25%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Total for North Carolina' tracks the average spending on goods and services by residents of North Carolina. This metric is a key indicator of economic growth and consumer demand 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
This series measures the total personal consumption expenditures per person in North Carolina, adjusted for inflation. It provides insight into the purchasing power and living standards of North Carolina residents and is used by economists to analyze consumer trends and predict future economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure and population estimates.
Historical Context
Policymakers and businesses use this metric to understand consumer spending patterns and make informed decisions about economic policies and market strategies.
Key Facts
- North Carolina's per capita personal consumption expenditures were $46,721 in 2021.
- Consumption spending accounts for over 65% of North Carolina's gross state product.
- The per capita consumption metric has grown by an average of 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average spending on goods and services by residents of North Carolina, providing insight into consumer demand and living standards in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator is crucial for understanding consumer behavior, economic growth, and market conditions in North Carolina.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data using personal consumption expenditure and population estimates.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to inform decisions about economic policies and market strategies in North Carolina.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for North Carolina (NCPCEPC), retrieved from FRED.