Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Ohio
OHPCEFCENPISH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,566.60
Year-over-Year Change
51.52%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures final consumption expenditures of nonprofit institutions serving households in Ohio, a component of personal consumption expenditures on services. It provides insight into the scale and importance of the nonprofit sector's 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
The Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Ohio trend represents spending by nonprofit organizations that provide services directly to households, such as charities, foundations, and advocacy groups. This metric is used to analyze the role of the nonprofit sector in the Ohio economy.
Methodology
The data is collected through surveys of nonprofit organizations and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This trend informs policymakers and researchers on the economic contribution of the nonprofit sector and its role in household consumption within Ohio.
Key Facts
- Nonprofit institutions account for over 10% of Ohio's GDP.
- Ohio's nonprofit sector employs more than 500,000 people.
- Charitable giving in Ohio totaled $23 billion in the latest year.
FAQs
Q: What does this economic trend measure?
A: This trend measures final consumption expenditures by nonprofit institutions serving households in the state of Ohio, which is a component of personal consumption expenditures on services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the scale and economic impact of the nonprofit sector in Ohio, which is a significant part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of nonprofit organizations and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend informs policymakers and researchers on the economic contribution of the nonprofit sector and its role in household consumption within Ohio.
Q: Are there update delays or limitations?
A: The data is updated quarterly, with a typical 3-month lag between the end of the reference period and the release of the data.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Ohio (OHPCEFCENPISH), retrieved from FRED.