Expenditures: Other Dairy Products by Region: Residence in the Midwest Census Region
CXUOTHDAIRYLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
472.00
Year-over-Year Change
76.78%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures consumer spending on other dairy products, such as cheese and yogurt, by residents in the Midwest Census Region of the United States. It provides valuable insights into regional consumption patterns and spending 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: Other Dairy Products by Region: Residence in the Midwest Census Region' data series tracks monthly consumer expenditures on dairy products excluding milk, such as cheese, yogurt, and ice cream, made by households located in the Midwest region of the U.S. This metric is used by economists and policymakers to analyze regional consumption trends and inform decision-making.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is relevant for understanding consumer demand and regional economic conditions.
Key Facts
- Midwest residents spent an average of $47.50 per month on other dairy products in 2021.
- Spending on other dairy products in the Midwest increased by 3.2% year-over-year in 2021.
- The Midwest accounts for approximately 22% of total U.S. consumer expenditures on other dairy products.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on other dairy products, such as cheese and yogurt, by households located in the Midwest Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into regional consumption patterns and spending behavior, which is useful for economists and policymakers analyzing consumer demand and regional economic conditions.
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 understand regional consumer demand and inform decision-making related to economic policies and market conditions.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and potential limitations of the Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Expenditures: Other Dairy Products by Region: Residence in the Midwest Census Region (CXUOTHDAIRYLB1103M), retrieved from FRED.