Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Virginia
VAPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,488.00
Year-over-Year Change
29.05%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods for clothing and footwear in the state of Virginia. It provides insights into consumer spending patterns and the health of the retail sector.
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 Virginia series tracks the average amount spent per person in the state on apparel and related items. This metric is used by economists and policymakers to monitor consumer demand and gauge the performance of the local economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household survey information.
Historical Context
This trend is closely watched by retailers, market analysts, and government officials to assess the strength of consumer spending and the broader economic climate.
Key Facts
- Virginia's per capita spending on clothing and footwear was $2,368 in 2021.
- Clothing and footwear account for about 3% of total personal consumption in Virginia.
- This trend has shown steady growth over the past decade, with a brief decline during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Virginia on nondurable goods for clothing and footwear, providing insights into consumer spending patterns.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists, retailers, and policymakers to assess the strength of consumer demand and the overall health of the Virginia economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household survey information.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to monitor consumer spending patterns and gauge the performance of the retail sector, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Virginia (VAPCEPCCLTH), retrieved from FRED.