Expenditures: Total Average Annual Expenditures by Age: Age 75 or over
CXUTOTALEXPLB0409M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,031.00
Year-over-Year Change
62.23%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the total average annual expenditures by individuals aged 75 or over in the United States. It provides valuable insights into the spending patterns and consumption habits of older adults, which is crucial for policymakers and economists.
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: Total Average Annual Expenditures by Age: Age 75 or over' trend represents the average annual spending of U.S. households headed by individuals aged 75 or older. This data is used to analyze the economic well-being and consumption behaviors of the elderly population, informing policies related to retirement, healthcare, and cost of living.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey, which gathers detailed information on household spending.
Historical Context
This economic trend is widely used by policymakers, researchers, and market analysts to understand the financial dynamics and consumption patterns of the older adult population in the United States.
Key Facts
- The average annual expenditure for households headed by individuals aged 75 or over was $51,280 in 2020.
- Housing and healthcare are the two largest expense categories for older adults, accounting for nearly 70% of total spending.
- Spending on entertainment and travel tends to decline as individuals reach advanced ages.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total average annual expenditures of U.S. households headed by individuals aged 75 or over, providing insights into the spending patterns and consumption habits of the elderly population.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for policymakers, researchers, and market analysts to understand the financial dynamics and consumption behaviors of older adults, informing policies related to retirement, healthcare, and cost of living.
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 gathers detailed information on household spending.
Q: How is this trend used in economic policy?
A: This economic trend is widely used by policymakers, researchers, and market analysts to analyze the financial well-being and consumption patterns of the older adult population, informing policies related to retirement, healthcare, and cost of living.
Q: Are there update delays or limitations?
A: The Consumer Expenditure Survey data is released on a quarterly basis, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Expenditures: Total Average Annual Expenditures by Age: Age 75 or over (CXUTOTALEXPLB0409M), retrieved from FRED.