Personal Consumption Expenditures: Nondurable Goods for Wisconsin
WIPCENDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,504.50
Year-over-Year Change
53.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator tracks personal consumption expenditures on nondurable goods in the state of Wisconsin. It provides insights into consumer spending patterns and the overall strength of the state's economy.
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 for Wisconsin series measures the total dollar value of consumer purchases of non-durable goods, such as food, beverages, and clothing, by residents of Wisconsin. This metric is widely used by economists and policymakers to gauge consumer demand and assess the health of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer spending behavior.
Historical Context
Trends in Wisconsin's nondurable goods consumption are closely monitored by state and local governments, as well as businesses, to inform economic and policy decisions.
Key Facts
- Wisconsin's nondurable goods consumption accounts for approximately 30% of the state's total personal consumption expenditures.
- Nondurable goods spending in Wisconsin has grown by an average of 2.5% annually over the past decade.
- Consumer purchases of food and beverages make up the largest share of nondurable goods spending in Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of consumer purchases of non-durable goods, such as food, beverages, and clothing, by residents of the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: Trends in Wisconsin's nondurable goods consumption are closely monitored by economists, policymakers, and businesses as an indicator of consumer demand and the overall health of the state's 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 surveys of consumer spending behavior.
Q: How is this trend used in economic policy?
A: State and local governments, as well as businesses, use this metric to inform economic and policy decisions, as trends in nondurable goods consumption can provide insights into consumer demand and the overall strength of the Wisconsin economy.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis, with a lag of approximately one to two months from the end of the reporting period.
Related Trends
All Employees: Information in Wisconsin
SMU55000005000000001A
Educational Services Wages and Salaries in Wisconsin
WIWEDU
Regional Price Parities: Goods: Metropolitan Portion for Wisconsin
WIMPRPPGOOD
Real Gross Domestic Product: Utilities (22) in Wisconsin
WIUTILRQGSP
All Employees: Education and Health Services: Outpatient Care Centers in Wisconsin
SMU55000006562140001
Regional Price Parities: Services: Housing: Nonmetropolitan Portion for Wisconsin
WINMPRPPSERVERENT
Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods for Wisconsin (WIPCENDURG), retrieved from FRED.