Expenditures: Apparel and Services by Region: Residence in the Midwest Census Region
CXUAPPARELLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,905.00
Year-over-Year Change
17.30%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures consumer expenditures on apparel and related services for households residing in the Midwest U.S. census region. It provides insights into regional consumer spending patterns and demand for the apparel industry.
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 Expenditures: Apparel and Services by Region: Residence in the Midwest Census Region metric tracks monthly household spending on clothing, footwear, and related products and services in the Midwest region. It is a key indicator of consumer behavior and economic conditions in this geographic area.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is used by policymakers, economists, and industry analysts to understand regional consumer demand and guide economic and market decisions.
Key Facts
- Apparel and services account for about 3.5% of total household expenditures in the Midwest.
- Spending on apparel and services in the Midwest has grown at an average annual rate of 2.5% over the past decade.
- The Midwest region represents approximately 22% of total U.S. consumer expenditures on apparel and related services.
FAQs
Q: What does this economic trend measure?
A: This trend measures monthly household spending on clothing, footwear, and related products and services for consumers residing in the Midwest U.S. census region.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into regional consumer demand and spending patterns in the apparel industry, which is useful for policymakers, economists, and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to understand regional consumer demand and guide economic and market decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Expenditures: Apparel and Services by Region: Residence in the Midwest Census Region (CXUAPPARELLB1103M), retrieved from FRED.