Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for North Carolina
NCPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,442.00
Year-over-Year Change
52.59%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically clothing and footwear, for North Carolina. It provides insights into consumer spending patterns and helps economists analyze economic growth.
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: Clothing and Footwear for North Carolina metric tracks the average amount spent by North Carolina residents on clothing and footwear. This data is used to understand consumer behavior and its impact on the broader state 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 policymakers, businesses, and economists to assess consumer demand and the health of North Carolina's retail sector.
Key Facts
- North Carolina's per capita clothing and footwear spending was $2,142 in 2021.
- Clothing and footwear account for approximately 3.5% of total personal consumption expenditures in North Carolina.
- Per capita clothing and footwear spending in North Carolina has grown by an average of 2.8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by North Carolina residents on nondurable goods, specifically clothing and footwear, per capita.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the health of the retail sector in North Carolina, which is useful for policymakers, businesses, and economists.
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 policymakers, economists, and businesses to assess consumer demand and the overall state of the North Carolina economy.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for North Carolina (NCPCEPCCLTH), retrieved from FRED.