Personal Consumption Expenditures: Goods for Colorado
COPCEG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122,105.70
Year-over-Year Change
107.52%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods for Colorado measures consumer spending on goods in the state of Colorado. This key economic indicator provides insights into the health of the local economy and consumer demand.
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
This series tracks total consumer expenditures on goods, such as durable and nondurable items, by residents of Colorado. It is a important gauge of economic activity and a leading indicator used by policymakers and analysts to assess regional consumer trends.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in Colorado's personal consumption of goods offer valuable context for understanding the state's economic performance and consumer sentiment.
Key Facts
- Colorado's goods consumption accounted for 2.1% of total U.S. personal consumption in 2021.
- Durable goods made up 32.5% of Colorado's personal consumption in 2021.
- Real personal consumption of goods in Colorado grew 4.2% in 2021.
FAQs
Q: What does this economic trend measure?
A: The COPCEG series measures total consumer spending on goods, including durable and nondurable items, by residents of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into regional consumer demand and economic activity in Colorado, making it a valuable indicator for policymakers, businesses, and analysts.
Q: How is this data collected or calculated?
A: The data is collected through household and business surveys by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Trends in Colorado's personal consumption of goods offer valuable context for understanding the state's economic performance and consumer sentiment, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The COPCEG data is released on a quarterly basis, with a lag of approximately 2-3 months.
Related Trends
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods for Colorado (COPCEG), retrieved from FRED.