Personal Consumption Expenditures: Goods for Utah
UTPCEG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67,728.60
Year-over-Year Change
139.44%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods for Utah (UTPCEG) metric measures consumer spending on goods within the state of Utah. This indicator provides valuable insights into the strength of the local economy and consumer demand.
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
UTPCEG represents the total dollar value of goods purchased by Utah residents for personal consumption. It is a key component of overall personal consumption expenditures, which is a primary driver of economic growth. Economists and policymakers closely monitor this data to assess consumer confidence and spending patterns.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
UTPCEG is used to inform fiscal and monetary policy decisions at the state and national level.
Key Facts
- Utah's consumer goods spending accounts for over 10% of total U.S. personal consumption expenditures.
- UTPCEG has grown by an average of 4% annually over the past decade.
- Durable goods purchases make up roughly 40% of total UTPCEG.
FAQs
Q: What does this economic trend measure?
A: The UTPCEG metric measures the total dollar value of consumer spending on goods within the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: UTPCEG provides valuable insights into local consumer demand and economic conditions, which is crucial information for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: UTPCEG is used to inform fiscal and monetary policy decisions at the state and national level, as it is a key indicator of consumer confidence and spending patterns.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month lag in the release of UTPCEG data, and the metric may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods for Utah (UTPCEG), retrieved from FRED.