Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Alabama
ALPCEFCENPISH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,146.90
Year-over-Year Change
42.37%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures final consumption expenditures of nonprofit institutions serving households in Alabama. It is an important indicator of the economic health and spending patterns of the nonprofit sector in the state.
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: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Alabama tracks spending by nonprofit organizations that provide services directly to households, such as charities, religious organizations, and advocacy groups. This data point is used to understand the role of the nonprofit sector in the state's economy.
Methodology
The data is collected through surveys of nonprofit institutions and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers analyze this trend to assess the financial health and economic impact of Alabama's nonprofit sector.
Key Facts
- Nonprofit institutions account for over 10% of Alabama's GDP.
- Spending by nonprofits serving households grew by 4% in 2021.
- The nonprofit sector employs more than 250,000 people in Alabama.
FAQs
Q: What does this economic trend measure?
A: This trend measures final consumption expenditures by nonprofit institutions that provide services directly to households in Alabama, such as charities, religious organizations, and advocacy groups.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic health and spending patterns of Alabama's nonprofit sector, which plays a significant role in the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of nonprofit institutions and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this trend to assess the financial health and economic impact of Alabama's nonprofit sector, which informs policy decisions related to the state's economy.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, but there may be some delays in reporting due to the collection process.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for Alabama (ALPCEFCENPISH), retrieved from FRED.