Personal Consumption Expenditures: Nondurable Goods for Ohio
OHPCENDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
133,729.30
Year-over-Year Change
53.84%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Nondurable Goods for Ohio trend measures consumer spending on non-durable goods in the state. It provides insights into Ohio's economic health and consumer confidence.
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 spending on consumable products like food, clothing, and gasoline that have a lifespan of less than three years. It is a key indicator of household consumption and a vital component of overall economic activity.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this trend to assess consumer demand and make informed decisions about fiscal and monetary policies.
Key Facts
- Ohio is the 7th largest state economy in the U.S.
- Consumer spending accounts for over 65% of Ohio's GDP.
- Nondurable goods make up nearly 40% of total personal consumption in Ohio.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Nondurable Goods for Ohio trend measures consumer spending on non-durable goods, such as food, clothing, and gasoline, within the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into Ohio's economic health and consumer confidence, which are vital for policymakers and analysts to make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess consumer demand and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods for Ohio (OHPCENDURG), retrieved from FRED.