Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Alabama
ALPCEPCGONPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,346.00
Year-over-Year Change
52.92%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the per capita personal consumption expenditures for services provided by nonprofit institutions serving households in Alabama. It is a key indicator of consumer demand and economic activity 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 Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Alabama metric tracks the average spending on services from nonprofit organizations by Alabama residents. It provides insights into the health of the state's nonprofit sector and consumer preferences.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic accounts.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess consumer behavior and the role of the nonprofit sector in Alabama's economy.
Key Facts
- Alabama's per capita nonprofit spending is higher than the national average.
- Nonprofit institutions account for over 10% of Alabama's gross domestic product.
- Service-based spending makes up the majority of Alabama residents' personal consumption expenditures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per capita spending by Alabama residents on services provided by nonprofit institutions, such as charities, foundations, and advocacy groups.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior and the role of the nonprofit sector in Alabama's economy, which is crucial for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic accounts.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to assess the health of Alabama's nonprofit sector and consumer spending patterns, which can inform decisions on economic development, tax policies, and social programs.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months, and may be subject to revisions as more complete information becomes available.
Related Trends
All Employees: Non-Durable Goods: Animal Slaughtering and Processing in Alabama
SMU01000003231160001A
Production or Nonsupervisory Employees: Manufacturing: Durable Goods in Alabama
SMU01000003100000006SA
Coefficient for Residential Carbon Dioxide Emissions, Kerosene for Alabama
EMISSCO2CKSRCBALA
Coefficient for Transportation Carbon Dioxide Emissions, Distillate Fuel for Alabama
EMISSCO2CDFACBALA
Gross Domestic Product: Farms (111-112) in Alabama
ALFARMNGSP
Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Alabama
ALWHOLEQGSP
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for Alabama (ALPCEPCGONPI), retrieved from FRED.