Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Massachusetts
MAPCEFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,094.90
Year-over-Year Change
65.81%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food and beverages purchased for off-premises consumption in Massachusetts. It is a key indicator of consumer spending 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
The Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Massachusetts series tracks consumer spending on grocery items and other food/drink consumed at home rather than in restaurants or other establishments. It provides insights into household consumption patterns and can inform economic policymaking.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess consumer demand and the health of the Massachusetts economy.
Key Facts
- Massachusetts residents spent over $60 billion on food and beverages in 2021.
- Food and beverage purchases make up about 15% of total personal consumption in Massachusetts.
- Off-premises food and drink spending has grown steadily in Massachusetts over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on food and beverages purchased for off-premises consumption in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into household consumption patterns and consumer demand in Massachusetts, which is useful for economists, policymakers, and market analysts assessing the state's economic health.
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: This trend is used by economists and policymakers to monitor consumer spending and inform economic policies in Massachusetts.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Massachusetts (MAPCEFOOD), retrieved from FRED.