Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for South Carolina
SCPCEFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,070.80
Year-over-Year Change
85.37%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for South Carolina tracks consumer spending on food and drinks consumed at home in 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
This economic indicator measures the dollar value of food and non-alcoholic beverages purchased by South Carolina consumers for consumption outside of restaurants and other food service establishments. It provides insights into household spending patterns and can inform policy decisions related to the state's retail and consumer sectors.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to gauge the strength of South Carolina's consumer economy and make informed decisions.
Key Facts
- South Carolina's off-premises food and beverage spending totaled $29.3 billion in 2021.
- This metric has grown at an average annual rate of 3.2% over the past decade.
- Household food purchases make up the largest component of this indicator.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for South Carolina tracks consumer spending on food and non-alcoholic drinks consumed at home in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into household spending patterns and can inform policy decisions related to South Carolina's retail and consumer sectors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the strength of South Carolina's consumer economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for South Carolina (SCPCEFOOD), retrieved from FRED.