Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Virginia
VAPCECLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,971.80
Year-over-Year Change
38.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures consumer spending on clothing and footwear in Virginia. It is a key indicator of retail activity and consumer demand 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 Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Virginia data series tracks household spending on apparel and related items in the Commonwealth. This metric provides insight into consumer behavior and the strength of the state's retail sector.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers monitor this trend to assess the health of Virginia's consumer economy.
Key Facts
- Clothing and footwear account for about 3.5% of total consumer spending in Virginia.
- This trend has shown seasonal fluctuations, with peaks around the holiday shopping season.
- Spending on apparel tends to be more sensitive to economic conditions than other consumer categories.
FAQs
Q: What does this economic trend measure?
A: This trend measures household spending on clothing, shoes, and related nondurable goods in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: Tracking consumer spending on apparel provides insights into the health of Virginia's retail sector and overall consumer demand in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the strength of Virginia's consumer economy and make informed decisions about fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may have a lag of several weeks before publication.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Virginia (VAPCECLTH), retrieved from FRED.