Per Capita Personal Consumption Expenditures: Nondurable Goods: Other Nondurable Goods for Ohio
OHPCEPCONDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,481.00
Year-over-Year Change
65.17%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, excluding food and energy, for the state of Ohio. It provides insights into consumer spending patterns and overall economic activity 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 Per Capita Personal Consumption Expenditures: Nondurable Goods: Other Nondurable Goods for Ohio series tracks consumer spending on non-essential nondurable goods, such as apparel, recreational goods, and personal care products, by Ohio residents. This metric is used by economists and policymakers to assess the health of the state's economy and consumer confidence.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic reports.
Historical Context
This trend is closely monitored by state and federal policymakers to gauge the impact of economic policies and market conditions on consumer spending.
Key Facts
- Ohio's per capita spending on other nondurable goods was $4,324 in 2021.
- This metric has increased by 7.2% over the past 5 years.
- Nondurable goods account for approximately 40% of total personal consumption expenditures in Ohio.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on nondurable goods, excluding food and energy, for the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the overall health of Ohio's economy, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and economic reports.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal policymakers to gauge the impact of economic policies and market conditions on consumer spending in Ohio.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a slight delay due to the time required for data collection and reporting.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Other Nondurable Goods for Ohio (OHPCEPCONDURG), retrieved from FRED.