Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Great Lakes BEA Region
GLAKPCEPCFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,119.00
Year-over-Year Change
64.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods like food and beverages purchased for off-premises consumption in the Great Lakes region. It provides insights into consumer demand and spending patterns.
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 Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Great Lakes BEA Region metric tracks consumer spending on essential household items like groceries and packaged drinks in the eight-state Great Lakes region. This data point is a key indicator of economic health and consumer confidence.
Methodology
The data is collected through household surveys and point-of-sale transactions.
Historical Context
Policymakers and analysts use this metric to understand regional consumer behavior and inform economic policy decisions.
Key Facts
- The Great Lakes region includes Illinois, Indiana, Michigan, Ohio, Wisconsin, Minnesota, Iowa, and Missouri.
- Food and beverages account for the largest share of nondurable goods consumption.
- Per capita spending on off-premises food and drinks has risen steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on nondurable goods like food and beverages purchased for off-premises consumption in the Great Lakes region.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into regional consumer demand and spending patterns, which are key indicators of economic health and can inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and point-of-sale transactions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to understand regional consumer behavior and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, with occasional delays due to survey timelines and processing.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Great Lakes BEA Region (GLAKPCEPCFOOD), retrieved from FRED.