Personal Consumption Expenditures: Nondurable Goods for Illinois
ILPCENDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
150,725.60
Year-over-Year Change
56.53%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures personal consumption expenditures on nondurable goods in Illinois. It is a key indicator of consumer demand and economic activity in 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) represent the value of goods and services purchased by consumers. The nondurable goods component includes items like food, clothing, and fuel that are typically used up within a short period.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess economic conditions and consumer spending patterns in Illinois.
Key Facts
- Illinois accounts for nearly 4% of total U.S. personal consumption expenditures.
- Nondurable goods make up about 30% of total PCE in Illinois.
- Household spending on nondurable goods has grown steadily in Illinois over the past decade.
FAQs
Q: What does this economic trend measure?
A: This series measures personal consumption expenditures on nondurable goods in the state of Illinois. It captures consumer spending on items like food, clothing, and fuel.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer demand and economic activity in Illinois. It is closely watched by policymakers, businesses, and economists to assess the health of the state's economy.
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 and analysts use this metric to gauge consumer spending patterns and make informed decisions about economic policies, such as tax and interest rate adjustments, in Illinois.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis, with a lag of approximately one month. There may be revisions to the historical data as new information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods for Illinois (ILPCENDURG), retrieved from FRED.