Expenditures: Food Away from Home by Region: Residence in the Midwest Census Region
CXUFOODAWAYLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,612.00
Year-over-Year Change
50.81%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic indicator measures consumer spending on food consumed outside the home for individuals residing in the Midwest census region. It provides insights into regional consumption patterns and consumer behavior.
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: Food Away from Home by Region: Residence in the Midwest Census Region tracks the monthly average expenditures on food consumed away from home for people living in the Midwest region of the United States. This metric is used by economists and policymakers to analyze regional consumption trends and consumer preferences.
Methodology
The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator is relevant for understanding regional economic activity and consumer spending patterns, which can inform policy decisions and business strategies.
Key Facts
- The Midwest region includes 12 states, including Illinois, Indiana, and Ohio.
- Food away from home accounts for a significant portion of household budgets.
- Regional differences in food consumption patterns can reflect cultural, demographic, and economic factors.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the monthly average expenditures on food consumed outside the home for individuals residing in the Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into regional consumption patterns and consumer behavior, which is useful for economists, policymakers, and businesses operating in the Midwest.
Q: How is this data collected or calculated?
A: The data is collected through the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator can inform policy decisions and business strategies related to regional economic activity and consumer spending patterns.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and potential revisions of the Consumer Expenditure Survey.
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Citation
U.S. Federal Reserve, Expenditures: Food Away from Home by Region: Residence in the Midwest Census Region (CXUFOODAWAYLB1103M), retrieved from FRED.