Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Alabama
ALPCECLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,646.40
Year-over-Year Change
46.50%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on nondurable goods, specifically clothing and footwear, in the state of Alabama. It provides insights into consumer spending patterns and the strength of the local 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 Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Alabama series tracks consumer spending on apparel and footwear products in the state. This metric is used by economists and policymakers to monitor the health of the retail industry and consumer confidence.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is useful for analyzing the state of Alabama's consumer market and informing decisions related to economic policy and retail investment.
Key Facts
- Alabama's clothing and footwear expenditures account for over 5% of total nondurable goods spending.
- Clothing and footwear spending declined by 8.2% in Alabama during the COVID-19 pandemic.
- The state's clothing and footwear expenditures have grown at an average annual rate of 2.4% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on nondurable goods, specifically clothing and footwear, in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the strength of the local retail sector, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used to analyze the state of Alabama's consumer market and inform decisions related to economic policy and retail investment.
Q: Are there update delays or limitations?
A: The data is published with a delay of approximately one quarter.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Alabama (ALPCECLTH), retrieved from FRED.