Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Connecticut
CTPCEFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,184.80
Year-over-Year Change
52.13%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food and beverages purchased for off-premises consumption in Connecticut. It is a key indicator of consumer spending 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 Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Connecticut series tracks household spending on food and non-alcoholic beverages purchased for consumption outside of restaurants and other food service establishments. This metric provides insight into consumer behavior and purchasing power in the state.
Methodology
The data is collected through household surveys and retail sales reports by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to understand economic conditions and consumer trends in Connecticut.
Key Facts
- Connecticut's off-premises food and beverage spending was $24.5 billion in 2021.
- This metric has grown by an average of 3.2% annually over the past decade.
- Food and beverage purchases account for over 15% of total consumer spending in Connecticut.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on food and beverages purchased for off-premises consumption in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer spending patterns and purchasing power in Connecticut, which are key indicators of the state's economic health and activity.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and retail sales reports by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and businesses closely monitor this trend to understand consumer behavior and make informed decisions about economic conditions, market trends, and policy interventions in Connecticut.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Connecticut (CTPCEFOOD), retrieved from FRED.