Expenditures: Other Household Expenses by Age: from Age 65 to 74
CXUHHOTHXPNLB0408M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,585.00
Year-over-Year Change
88.47%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures spending on various household expenses by Americans aged 65 to 74. It provides insights into the consumption patterns and financial well-being of older adults.
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: Other Household Expenses by Age: from Age 65 to 74' series tracks the average monthly spending on a range of non-essential items by U.S. households headed by individuals between 65 and 74 years old. This data is used by economists and policymakers to analyze the financial security and quality of life for older Americans.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is valuable for understanding the economic factors influencing the standard of living and consumption habits of pre-retirees and recent retirees.
Key Facts
- The average monthly other household spending for those aged 65-74 is $1,049.
- Spending on apparel and services accounts for the largest share of other household expenses in this age group.
- Expenditures on entertainment and personal care are also significant for households headed by 65-74 year-olds.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly spending on various non-essential household expenses by Americans aged 65 to 74 years old.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the financial security and consumption patterns of pre-retirees and recent retirees, which is valuable for understanding the economic well-being of older adults.
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 economists and policymakers to analyze the financial stability and quality of life for older Americans, which can inform policies related to retirement, healthcare, and social welfare.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule of the Consumer Expenditure Survey, which may result in periodic update delays.
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Citation
U.S. Federal Reserve, Expenditures: Other Household Expenses by Age: from Age 65 to 74 (CXUHHOTHXPNLB0408M), retrieved from FRED.