Personal Consumption Expenditures: Total for Virginia
VAPCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
486,122.90
Year-over-Year Change
63.11%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Total for Virginia trend measures consumer spending within the state. This metric is closely watched by economists and policymakers to gauge economic activity and consumer confidence.
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 trend represents the total value of goods and services purchased by Virginia residents. It includes spending on durable goods, non-durable goods, and services, and is a key indicator of the health of the state's economy.
Methodology
The data is collected through household surveys and aggregated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers use this trend to inform decisions around fiscal, monetary, and economic development policies in Virginia.
Key Facts
- Virginia's personal consumption expenditures totaled $497 billion in 2021.
- Spending on services accounts for over 60% of total personal consumption in Virginia.
- Consumer spending in Virginia has grown by an average of 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Total for Virginia trend measures the total value of goods and services purchased by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic activity and consumer confidence in Virginia, making it important for policymakers, businesses, and analysts to monitor.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and aggregated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to inform decisions around fiscal, monetary, and economic development policies in Virginia.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Total for Virginia (VAPCE), retrieved from FRED.