Per Capita Personal Consumption Expenditures: Total for Great Lakes BEA Region
GLAKPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,090.00
Year-over-Year Change
61.17%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Total for the Great Lakes BEA Region measures the average spending by consumers in the Great Lakes states. This key economic indicator helps analysts and policymakers understand regional consumer demand and economic activity.
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
This data series tracks personal consumption expenditures, which represent the value of goods and services purchased by households, on a per capita basis for the Great Lakes region. It is a useful metric for assessing regional economic performance and consumer-driven growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic data.
Historical Context
Policymakers and economists use this regional consumption data to inform decisions and analysis related to economic conditions, monetary policy, and consumer trends.
Key Facts
- Covers the Great Lakes states of Illinois, Indiana, Michigan, Ohio, and Wisconsin.
- Measured in chained 2012 dollars to adjust for inflation.
- Has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average personal consumption expenditures per person in the Great Lakes region. It covers household spending on goods and services.
Q: Why is this trend relevant for users or analysts?
A: This regional consumption data provides valuable insights into consumer demand and economic activity, which are crucial for policymakers and businesses.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis (BEA) compiles this data based on surveys and economic statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this regional consumption metric to assess economic conditions and inform decisions related to monetary policy, fiscal stimulus, and other interventions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
Related Trends
Chain-Type Quantity Index for Real GDP: Durable Goods Manufacturing (321, 327-339) in the Great Lakes BEA Region
GLAKDURMANQGSP
Real Gross Domestic Product: Military in the Great Lakes BEA Region
GLAKGOVFEDMILRGSP
Chain-Type Quantity Index for Real GDP: Management of Companies and Enterprises (55) in the Great Lakes BEA Region
GLAKMNGCOENTPRQQGSP
Gross Domestic Product: Amusement, Gambling, and Recreation Industries (713) in the Great Lakes BEA Region
GLAKAMUSENGSP
Chain-Type Quantity Index for Real GDP: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in the Great Lakes BEA Region
GLAKMVEHMANQGSP
Real Gross Domestic Product: Primary Metal Manufacturing (331) in the Great Lakes BEA Region
GLAKPRIMETMANRGSP
Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for Great Lakes BEA Region (GLAKPCEPC), retrieved from FRED.