Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Hawaii
HIPCEFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,903.20
Year-over-Year Change
68.73%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures consumer spending on food and beverages for off-premises consumption in Hawaii. It provides insights into household spending patterns and can inform policy decisions related to the local economy.
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 Personal Consumption Expenditures (PCE) data tracks the value of goods and services purchased by U.S. consumers. The 'Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption' series specifically measures spending on food and drinks for consumption outside of restaurants and other food service establishments in Hawaii.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by economists and policymakers to assess the health of the local consumer market and guide decisions on economic policies.
Key Facts
- Food and beverage spending accounts for a significant portion of household budgets in Hawaii.
- This metric tracks changes in consumer demand and purchasing power over time.
- Policymakers use this data to understand the impacts of economic conditions on local consumers.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on food and beverages for off-premises consumption in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into household spending patterns and the health of the local consumer market, which is valuable for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers use this data to understand the impacts of economic conditions on local consumers and guide decisions on economic policies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting, and the metric may not capture all food and beverage purchases in Hawaii.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Hawaii (HIPCEFOOD), retrieved from FRED.