Per Capita Personal Consumption Expenditures: Goods for Colorado
COPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,775.00
Year-over-Year Change
80.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods for Colorado' metric tracks consumer spending on goods by residents of Colorado. It is a key indicator of economic activity and consumer confidence 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
This data series measures the average amount spent per person on consumer goods in Colorado. It is a vital statistic for understanding household consumption patterns and assessing the economic health of the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys.
Historical Context
Policymakers and economists use this metric to inform decisions about economic policy, taxation, and other initiatives that impact Colorado residents.
Key Facts
- Colorado's per capita goods spending was $18,234 in 2021.
- Goods consumption accounts for over 40% of total personal consumption in Colorado.
- Per capita goods spending in Colorado has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average amount spent per person on consumer goods, such as food, clothing, and household items, by residents of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for understanding patterns of consumer behavior and economic activity in Colorado, which can inform policymaking and business decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects and calculates this data using personal consumption expenditure surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the economic health of Colorado and make informed decisions about taxation, spending, and other initiatives that impact residents.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately three months, so there may be a delay in accessing the most recent information.
Related Trends
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Real Gross Domestic Product: Mining (Except Oil and Gas) (212) in Colorado
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Average Hourly Earnings of All Employees: Goods Producing in Colorado
SMU08000000600000003
Industrial Carbon Dioxide Emissions, Petroleum for Colorado
EMISSCO2TOTVICPECOA
Other Deposits in All Commercial Banks in Colorado
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All Employees: Leisure and Hospitality: Restaurants and Other Eating Places in Colorado
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for Colorado (COPCEPCG), retrieved from FRED.