Per Capita Personal Consumption Expenditures: Total for Ohio
OHPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,583.00
Year-over-Year Change
58.27%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures total personal consumption expenditures per capita in Ohio. It provides insights into the spending patterns and economic well-being of Ohio residents.
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
Per capita personal consumption expenditures (PCE) represent the average amount spent on goods and services by Ohio residents. This metric is a key indicator of consumer demand and living standards within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure and population estimates.
Historical Context
Economists and policymakers analyze this trend to understand Ohio's economic performance and consumer behavior.
Key Facts
- Ohio's per capita PCE was $47,700 in 2021.
- PCE accounts for over two-thirds of Ohio's gross domestic product.
- Ohio's per capita PCE has grown by 3.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent on goods and services by residents of Ohio. It provides insights into consumer demand and living standards within the state.
Q: Why is this trend relevant for users or analysts?
A: Per capita PCE is a key indicator of economic performance and consumer behavior, which are crucial for understanding Ohio's economic conditions and guiding policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure and population estimates for the state of Ohio.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this trend to assess consumer demand, living standards, and overall economic conditions in Ohio, which informs policy decisions and market analyses.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately three months, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for Ohio (OHPCEPC), retrieved from FRED.