National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for United States
USAPFCEQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,669,874,000,000.00
Year-over-Year Change
29.21%
Date Range
1/1/1960 - 7/1/2023
Summary
This economic trend measures private final consumption expenditure in the United States, which is a key component of Gross Domestic Product (GDP). It is an important indicator of consumer demand and economic growth.
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
Private final consumption expenditure represents household spending on goods and services. It is a crucial component of GDP, as consumer spending drives a large portion of economic activity. This metric is widely used by economists and policymakers to analyze consumer confidence and the overall health of the U.S. economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and government economic records.
Historical Context
Policymakers monitor this trend to assess the need for fiscal or monetary policy interventions to support consumer spending and economic growth.
Key Facts
- Private consumption accounts for over two-thirds of U.S. GDP.
- Consumer spending has been a key driver of economic growth in recent years.
- Weak private consumption can signal an impending recession.
FAQs
Q: What does this economic trend measure?
A: This trend measures private final consumption expenditure, which represents household spending on goods and services in the United States.
Q: Why is this trend relevant for users or analysts?
A: Private consumption is a crucial component of GDP and a key indicator of consumer demand and economic health. Analysts use this metric to assess the strength of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and government economic records.
Q: How is this trend used in economic policy?
A: Policymakers monitor private consumption to determine the need for fiscal or monetary policy interventions to support consumer spending and overall economic growth.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately one month.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for United States (USAPFCEQDSMEI), retrieved from FRED.