Personal Consumption Expenditures: Goods for Hawaii
HIPCEG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,492.20
Year-over-Year Change
58.96%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods for Hawaii trend measures the total spending on goods by Hawaii residents. It provides insights into the state's consumer demand and economic conditions.
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 metric represents the inflation-adjusted dollar value of goods purchased by Hawaii consumers. It is a key indicator of economic activity and consumer confidence in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists analyze this trend to assess Hawaii's economic performance and make informed decisions.
Key Facts
- Hawaii's goods consumption accounts for over 50% of total personal consumption expenditures.
- Goods spending in Hawaii has grown by an average of 3.2% annually over the past decade.
- The COVID-19 pandemic caused a 15% decline in Hawaii's goods consumption in 2020.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Goods for Hawaii trend measures the total inflation-adjusted spending on goods by Hawaii residents.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and confidence in Hawaii's economy, which is crucial for policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to assess Hawaii's economic performance and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is published quarterly, with a lag of approximately two months.
Related Trends
Per Capita Personal Consumption Expenditures: Services: Recreation Services for Hawaii
HIPCEPCSRECSRV
Gross Domestic Product: Machinery Manufacturing (333) in Hawaii
HIMACHMANNGSP
Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Hawaii
HIFURNMANRGSP
Gross Domestic Product: Transportation and Utilities (22, 48-49) in Hawaii
HITRANSUTILNGSP
State Government Tax Collections, Public Utilities Licenses in Hawaii
HIUTILLICTAX
Coefficient for Commercial Carbon Dioxide Emissions, Kerosene for Hawaii
EMISSCO2CKSCCBHIA
Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods for Hawaii (HIPCEG), retrieved from FRED.