Personal Consumption Expenditures: Nondurable Goods for Rhode Island
RIPCENDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,276.60
Year-over-Year Change
68.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on nondurable goods in Rhode Island. It provides insights into consumer spending patterns and 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 Personal Consumption Expenditures: Nondurable Goods for Rhode Island series tracks consumer spending on items such as food, clothing, and fuel in the state. This metric is used by economists and policymakers to gauge the health of the Rhode Island economy and consumer confidence.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by state government and the Federal Reserve to inform economic and fiscal policy decisions.
Key Facts
- Rhode Island's nondurable goods spending accounts for over 50% of total personal consumption.
- Nondurable goods expenditures have grown by 15% in Rhode Island over the past 5 years.
- Rhode Island's nondurable goods spending is 8% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on nondurable goods, such as food, clothing, and fuel, within the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer spending patterns and the overall health of the Rhode Island economy, which is crucial information for economists, policymakers, and market analysts.
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: This trend is closely monitored by state government and the Federal Reserve to inform economic and fiscal policy decisions that impact the Rhode Island economy.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a 1-2 month delay. The accuracy may be affected by changes in survey response rates or sampling methodologies.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods for Rhode Island (RIPCENDURG), retrieved from FRED.