Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Arkansas
ARPCEPCFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,590.00
Year-over-Year Change
64.23%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically food and beverages purchased for off-premises consumption in Arkansas. It provides insights into consumer spending patterns and household purchasing power 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: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Arkansas metric tracks the average amount spent by Arkansas residents on grocery and other food items not consumed on-site. This data point is a key indicator of consumer demand and economic well-being within the state.
Methodology
The data is collected through surveys and administrative records by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess consumer spending behaviors and their implications for the Arkansas economy.
Key Facts
- Arkansas per capita food and beverage spending averaged $3,412 in 2021.
- Off-premises food and beverage consumption accounts for over 55% of total personal consumption in Arkansas.
- Food and beverage spending has grown by 3.2% annually in Arkansas over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Arkansas on nondurable goods, specifically food and beverages purchased for consumption outside of food service establishments.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer spending patterns and household purchasing power within Arkansas, which is crucial for understanding the state's economic conditions and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected through surveys and administrative records by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to assess consumer spending behaviors and their implications for the Arkansas economy, informing decisions on fiscal, monetary, and industry policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Arkansas (ARPCEPCFOOD), retrieved from FRED.