Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Rhode Island
RIPCEFCENPISH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,646.20
Year-over-Year Change
54.52%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the final consumption expenditures of nonprofit institutions serving households in Rhode Island as part of personal consumption expenditures on services. It provides insights into the state's consumer spending patterns and economic activity.
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 Rhode Island trend represents the spending on services by nonprofit organizations that primarily serve households in the state. This metric is a component of the broader personal consumption expenditures data and offers a more granular view of consumer behavior.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive personal consumption expenditures statistics.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the health of Rhode Island's consumer sector and make informed decisions about economic policies and investment strategies.
Key Facts
- The trend represents over $2 billion in annual consumer spending in Rhode Island.
- Nonprofit institutions serving households account for approximately 5% of total personal consumption expenditures in the state.
- Rhode Island's nonprofit sector is a significant contributor to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the final consumption expenditures of nonprofit institutions serving households in Rhode Island as part of personal consumption expenditures on services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the role of the nonprofit sector in Rhode Island's consumer spending patterns and overall economic activity, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its comprehensive personal consumption expenditures statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the health of Rhode Island's consumer sector and inform decisions about economic policies and investment strategies.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and potential limitations as the broader personal consumption expenditures statistics reported by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Bureau of Economic Analysis, Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Rhode Island (RIPCEFCENPISH), retrieved from FRED.