Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Utah
UTPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,341.00
Year-over-Year Change
50.84%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically clothing and footwear, for the state of Utah. It provides insights into consumer spending patterns and can inform policymakers and businesses about economic conditions.
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 Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Utah metric tracks the average amount spent by Utah residents on clothing and footwear. This data is used by economists and policymakers to analyze consumer demand, inflation, and the overall health of the state's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and other sources.
Historical Context
This trend is used by businesses, investors, and policymakers to understand consumer behavior and make informed decisions.
Key Facts
- Utah's per capita clothing and footwear spending has increased by 25% over the past decade.
- Clothing and footwear account for approximately 5% of total personal consumption expenditures in Utah.
- Utah's per capita clothing and footwear spending is 7% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Utah residents on nondurable goods, specifically clothing and footwear, per person.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns in Utah, which is valuable for businesses, policymakers, and economists to understand economic conditions and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and other sources.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, businesses, and investors to monitor consumer demand, inflation, and the overall health of Utah's economy.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a lag of approximately 3 months. There may be revisions to previously reported data.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Utah (UTPCEPCCLTH), retrieved from FRED.