Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Louisiana
LAPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,387.00
Year-over-Year Change
38.84%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on nondurable goods, specifically clothing and footwear, for the state of Louisiana. It provides insights into consumer spending patterns and the demand for these products within the Louisiana 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 Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Louisiana series tracks the average amount spent by Louisiana residents on clothing and footwear. This metric is used by economists and policymakers to analyze consumer behavior, retail trends, and the overall health of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic indicators.
Historical Context
This trend is relevant for understanding consumer demand, inflation, and the performance of the retail sector in Louisiana.
Key Facts
- Louisiana per capita clothing and footwear spending reached $2,315 in 2021.
- Clothing and footwear account for approximately 4% of total personal consumption expenditures in Louisiana.
- This trend has shown steady growth over the past decade, reflecting broader economic expansion in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Louisiana residents on clothing and footwear, providing insights into consumer spending patterns and the demand for these nondurable goods.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding consumer behavior, retail sector performance, and the overall health of the Louisiana economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze consumer demand, inflation, and the performance of the retail sector in Louisiana, which can inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical lag of 2-3 months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Louisiana (LAPCEPCCLTH), retrieved from FRED.