Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for North Carolina
NCPCEGAS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,161.90
Year-over-Year Change
11.76%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on nondurable goods, specifically gasoline and other energy goods, in the state of North Carolina. It provides insights into consumer demand and spending patterns related to energy consumption in the region.
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: Gasoline and Other Energy Goods for North Carolina trend represents the total amount of money spent by consumers in North Carolina on gasoline and other energy-related nondurable goods. This data is used by economists and policymakers to analyze consumer behavior, energy demand, and the broader economic conditions within the state.
Methodology
The data is collected through surveys and estimates by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding the state's energy consumption, consumer spending patterns, and the potential impact of energy prices on the regional economy.
Key Facts
- North Carolina's personal consumption expenditures on gasoline and other energy goods totaled $23.4 billion in 2021.
- Gasoline and other energy goods account for approximately 5.7% of total personal consumption expenditures in North Carolina.
- The trend has shown fluctuations in line with changes in energy prices and consumer demand over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total personal consumption expenditures on nondurable goods, specifically gasoline and other energy-related products, in the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and spending patterns related to energy consumption in North Carolina, which is crucial for understanding the state's economic conditions and the potential impact of energy prices on the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys and estimates by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze consumer behavior, energy demand, and the broader economic conditions within the state of North Carolina, which can inform energy and economic policies.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a delay of a few months, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for North Carolina (NCPCEGAS), retrieved from FRED.