Personal Consumption Expenditures: Goods for Illinois
ILPCEG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
232,212.00
Year-over-Year Change
63.14%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures personal consumption expenditures on goods in the state of Illinois. It provides insights into consumer spending patterns and economic activity within the state.
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
Personal consumption expenditures (PCE) are a key measure of household spending on goods and services. The PCE: Goods for Illinois trend specifically tracks consumer spending on tangible products in the state, offering valuable data for analyzing regional economic conditions.
Methodology
The data is collected through surveys and estimates by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this trend to assess the economic health and consumer demand within Illinois.
Key Facts
- Illinois is the 5th largest state economy in the U.S.
- Consumer spending accounts for over 68% of Illinois' GDP.
- Goods expenditures make up around 35% of total personal consumption in Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on goods within the state of Illinois, providing insights into consumer spending patterns.
Q: Why is this trend relevant for users or analysts?
A: This trend offers valuable data for analyzing the economic health and consumer demand within the state of Illinois, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys and estimates by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic conditions and consumer spending patterns within Illinois, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, but there may be some lag in the reporting process.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods for Illinois (ILPCEG), retrieved from FRED.