Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Less: Receipts from Sales of Goods and Services by Nonprofit Institutions for West Virginia
WVPCELRPTSLSGSNPIS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,954.80
Year-over-Year Change
74.24%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures final consumption expenditures of nonprofit institutions serving households in West Virginia, excluding receipts from sales of goods and services. It provides insight into the role of the nonprofit sector in 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: Services trend tracks household spending on services provided by nonprofit institutions, such as charities, foundations, and professional associations. This data is used by economists to analyze the size and composition of the nonprofit sector's contribution to personal consumption.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This metric is relevant for policymakers and analysts studying the economic impact of the nonprofit sector and its role in supporting household consumption.
Key Facts
- West Virginia's nonprofit sector accounted for $X.XX billion in final consumption expenditures in 20XX.
- Nonprofit institutions serve households by providing services such as healthcare, education, and social assistance.
- Receipts from sales of goods and services by nonprofits are excluded to avoid double-counting household spending.
FAQs
Q: What does this economic trend measure?
A: This trend measures final consumption expenditures of nonprofit institutions serving households in West Virginia, excluding receipts from sales of goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic role and contribution of the nonprofit sector in West Virginia, which is useful for policymakers and analysts studying 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 as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to understand the size and impact of the nonprofit sector's role in supporting household consumption and the broader West Virginia economy.
Q: Are there update delays or limitations?
A: There may be update delays or limitations associated with this data, as it is subject to the release schedule and methodological changes of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Less: Receipts from Sales of Goods and Services by Nonprofit Institutions for West Virginia (WVPCELRPTSLSGSNPIS), retrieved from FRED.