Expenditures: Nonalcoholic Beverages by Region: Residence in the Midwest Census Region
CXUNALCBEVGLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
661.00
Year-over-Year Change
84.12%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures household expenditures on nonalcoholic beverages by consumers residing in the Midwest region of the United States. It provides insights into consumption patterns and regional differences in 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: Nonalcoholic Beverages by Region: Residence in the Midwest Census Region series tracks the average monthly spending on nonalcoholic drinks, such as coffee, tea, soft drinks, and juices, by households located in the Midwest region of the United States. This data is useful for analyzing regional consumption trends and understanding the economic factors that influence beverage purchasing decisions.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey, which samples a representative group of households nationwide.
Historical Context
This economic indicator is relevant for policymakers, market analysts, and businesses operating in the food and beverage industry to assess regional consumer preferences and demand.
Key Facts
- The Midwest region accounts for about 21% of the total U.S. population.
- Households in the Midwest spend an average of $57 per month on nonalcoholic beverages.
- Soft drinks make up the largest share of nonalcoholic beverage expenditures in the Midwest.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly household expenditures on nonalcoholic beverages, such as coffee, tea, soft drinks, and juices, for consumers residing in the Midwest region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into regional consumption patterns and consumer behavior, which is valuable for policymakers, market analysts, and businesses operating in the food and beverage industry.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey, which samples a representative group of households nationwide.
Q: How is this trend used in economic policy?
A: This economic indicator is relevant for policymakers, market analysts, and businesses to assess regional consumer preferences and demand, which can inform marketing strategies, product development, and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a slight delay, as it is collected through the ongoing Consumer Expenditure Survey. There may be limitations in sample size or representativeness for smaller geographic regions.
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Citation
U.S. Federal Reserve, Expenditures: Nonalcoholic Beverages by Region: Residence in the Midwest Census Region (CXUNALCBEVGLB1103M), retrieved from FRED.