Private Final Consumption Expenditure in United States
USAPFCEQDSNAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,663,831,000,000.00
Year-over-Year Change
9.67%
Date Range
1/1/1947 - 1/1/2024
Summary
Private Final Consumption Expenditure (PFCE) measures the total value of consumer spending on goods and services in the United States. It is a key indicator of economic growth and consumer demand.
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
PFCE represents the market value of all goods and services purchased by U.S. households. It is a major component of Gross Domestic Product (GDP) and a vital metric for policymakers to assess consumer confidence and the overall health of the economy.
Methodology
The data is collected and calculated by the Bureau of Economic Analysis (BEA) based on household surveys and other economic indicators.
Historical Context
PFCE is closely watched by the Federal Reserve and other economic institutions to inform monetary and fiscal policies.
Key Facts
- PFCE accounts for approximately 70% of U.S. GDP.
- Consumer spending increased by 2.3% in 2022 compared to the previous year.
- Durable goods, such as automobiles, make up about 20% of total PFCE.
FAQs
Q: What does this economic trend measure?
A: Private Final Consumption Expenditure (PFCE) measures the total value of consumer spending on goods and services in the United States.
Q: Why is this trend relevant for users or analysts?
A: PFCE is a key indicator of economic growth and consumer demand, making it a vital metric for policymakers and economists to assess the overall health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Bureau of Economic Analysis (BEA) based on household surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: PFCE is closely watched by the Federal Reserve and other economic institutions to inform monetary and fiscal policies that aim to support consumer confidence and economic growth.
Q: Are there update delays or limitations?
A: The PFCE data is released on a quarterly basis, with a delay of approximately one month after the end of the quarter.
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Citation
U.S. Federal Reserve, Private Final Consumption Expenditure in United States (USAPFCEQDSNAQ), retrieved from FRED.