Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Utah
UTPCEPCFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,878.00
Year-over-Year Change
63.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods for food and beverages purchased for off-premises consumption in Utah. It provides insights into consumer spending and household purchasing power within 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
The Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Utah metric tracks consumer spending on grocery items and other food/drink purchases intended for home use. This data point is used by economists and policymakers to analyze household consumption patterns and changes in consumer behavior within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household survey information.
Historical Context
This economic indicator is relevant for assessing consumer demand, inflationary pressures, and the overall health of Utah's economy.
Key Facts
- Utah's per capita food/beverage spending reached a high of $4,700 in 2022.
- Consumer expenditures on off-premises food/drink have grown by 25% in Utah over the past decade.
- Nondurable goods account for over 35% of total personal consumption in Utah.
FAQs
Q: What does this economic trend measure?
A: This metric tracks per capita personal consumption expenditures on nondurable goods for food and beverages purchased for off-premises consumption in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This data point provides important insights into household spending patterns and consumer demand within Utah, which is valuable for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data using household survey information.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess consumer behavior, inflationary pressures, and the overall health of Utah's economy.
Q: Are there update delays or limitations?
A: There may be lags of several months before the latest data is published due to the time required for household surveys and data processing.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Utah (UTPCEPCFOOD), retrieved from FRED.