Personal Consumption Expenditures: Total for Idaho
IDPCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90,907.70
Year-over-Year Change
108.72%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Total for Idaho measures the total consumer spending within the state. It is a key economic indicator that reflects the strength of consumer demand and overall 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 metric tracks the total dollar value of all goods and services purchased by Idaho residents, including spending on durable goods, nondurable goods, and services. It is widely used by economists and policymakers to assess the health and trajectory of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic statistics.
Historical Context
The Personal Consumption Expenditures trend provides insight into Idaho's consumer confidence and spending patterns, which are crucial factors in evaluating the state's economic performance and policy decisions.
Key Facts
- Idaho's total personal consumption expenditures reached $77.3 billion in 2021.
- Consumer spending accounts for over 60% of Idaho's gross state product.
- Nondurable goods made up the largest share of Idaho's personal consumption in 2021 at 37%.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures: Total for Idaho measures the total dollar value of all goods and services purchased by consumers within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Idaho's economic health and consumer demand, providing important insights for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic statistics.
Q: How is this trend used in economic policy?
A: The Personal Consumption Expenditures trend is closely monitored by policymakers and economists to assess the state's economic performance and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Total for Idaho (IDPCE), retrieved from FRED.