Per Capita Personal Consumption Expenditures: Total for Utah
UTPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,027.00
Year-over-Year Change
83.74%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures: Total for Utah measures the average level of consumer spending in the state. It is a key indicator of economic activity 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
This metric tracks the total value of goods and services purchased by Utah residents, divided by the state's population. It provides insights into consumer confidence, spending patterns, and the overall health of the local economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on personal consumption expenditure surveys.
Historical Context
Policymakers and analysts use this trend to assess Utah's economic performance and consumer behavior.
Key Facts
- Utah's per capita personal consumption expenditures totaled $48,916 in 2021.
- Consumption spending in Utah has grown by an average of 3.2% annually over the past decade.
- Consumer spending accounts for over 60% of Utah's gross state product.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average level of consumer spending by Utah residents, including expenditures on goods and services.
Q: Why is this trend relevant for users or analysts?
A: Per capita consumption is a key indicator of economic activity and consumer demand in Utah, providing insights into the state's economic health and consumer confidence.
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 personal consumption expenditure surveys.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess Utah's economic performance and consumer behavior, informing policy decisions and market forecasts.
Q: Are there update delays or limitations?
A: The data is typically released with a 3-month lag and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for Utah (UTPCEPC), retrieved from FRED.