Per Capita Personal Consumption Expenditures: Goods for Utah
UTPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,817.00
Year-over-Year Change
97.48%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods for Utah' metric measures the average inflation-adjusted consumer spending on goods per person in the state of Utah.
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 economic indicator tracks how much residents in Utah are spending on physical products and merchandise, which is a key component of overall economic activity and consumer demand.
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 metric to assess household spending patterns and the strength of Utah's consumer economy.
Key Facts
- Utah per capita goods spending averaged $13,245 in 2021.
- Consumption on goods accounts for about 40% of total personal consumption in Utah.
- Real per capita goods spending in Utah has grown by 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average amount spent per person in Utah on physical consumer goods and products, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Monitoring Utah's per capita goods spending provides insight into consumer demand, household finances, and the overall strength of the state's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this data from personal consumption expenditure surveys and government economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to assess the health of Utah's consumer sector and make informed decisions around fiscal, monetary, and economic development policies.
Q: Are there update delays or limitations?
A: This data is typically published with a 2-3 month lag and may be subject to minor revisions over time as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for Utah (UTPCEPCG), retrieved from FRED.