Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for Ohio
OHPCEGAS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,559.10
Year-over-Year Change
3.30%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on nondurable goods, specifically gasoline and other energy goods, in the state of Ohio. It provides important insights into consumer spending and energy demand within 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: Nondurable Goods: Gasoline and Other Energy Goods for Ohio series tracks the total dollar amount spent by Ohio residents on gasoline and other energy-related nondurable goods. This metric is a key indicator of economic activity and consumer behavior within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reports.
Historical Context
This trend is closely monitored by policymakers, businesses, and economists to understand energy consumption patterns and their impact on the Ohio economy.
Key Facts
- Ohio is the seventh-largest state by population in the U.S.
- Gasoline and other energy goods account for a significant portion of household budgets in Ohio.
- This trend is a valuable indicator of consumer confidence and economic well-being in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar amount spent by Ohio residents on gasoline and other energy-related nondurable goods, providing insights into consumer spending and energy demand within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of economic activity and consumer behavior in Ohio, and is closely monitored by policymakers, businesses, and economists to understand energy consumption patterns and their impact on the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic reports.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, businesses, and economists to understand energy consumption patterns and their impact on the Ohio economy, informing decisions and policies related to energy, consumer spending, and economic development.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the Bureau of Economic Analysis, and may have some inherent limitations due to the complexities of measuring consumer spending on energy goods.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for Ohio (OHPCEGAS), retrieved from FRED.