Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Arkansas
ARPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,369.00
Year-over-Year Change
46.73%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically clothing and footwear, in the state of Arkansas. It provides insights into consumer spending patterns and the overall health of the state's economy.
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: Nondurable Goods: Clothing and Footwear for Arkansas' series tracks the average amount spent per person on clothing and footwear purchases in Arkansas. It is a valuable indicator of consumer demand and can be used to analyze consumer behavior and the strength of the retail sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic census information.
Historical Context
This trend is closely watched by policymakers, economists, and businesses to understand consumer spending patterns and make informed decisions about economic policy, investment, and marketing strategies.
Key Facts
- Arkansas' per capita clothing and footwear spending was $1,537 in 2021.
- Clothing and footwear accounted for 4.2% of total personal consumption expenditures in Arkansas in 2021.
- Arkansas' per capita clothing and footwear spending has increased by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person on clothing and footwear purchases in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the overall health of Arkansas' retail sector, which is valuable information for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic census information.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers, economists, and businesses to understand consumer spending patterns and make informed decisions about economic policy, investment, and marketing strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Arkansas (ARPCEPCCLTH), retrieved from FRED.