Per Capita Personal Consumption Expenditures: Total for Massachusetts
MAPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69,101.00
Year-over-Year Change
59.52%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures (PCE) for Massachusetts measures the average level of household spending on goods and services within the state. It is a key indicator of economic activity and consumer demand.
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
PCE tracks the total personal consumption expenditures in Massachusetts divided by the state's population, providing a per capita metric to assess changes in consumer spending over time. This data is widely used by economists and policymakers to analyze economic trends and consumer behavior.
Methodology
The data is collected through surveys of household expenditures and aggregated by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in Massachusetts' PCE can inform state-level fiscal and monetary policy decisions.
Key Facts
- Massachusetts PCE reached a record high of $53,905 in 2021.
- PCE accounts for over 60% of Massachusetts' gross state product.
- Per capita PCE in Massachusetts is consistently higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Consumption Expenditures (PCE) for Massachusetts measures the average level of household spending on goods and services within the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in Massachusetts' PCE are closely watched by economists and policymakers as a key indicator of consumer demand and overall economic activity within the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of household expenditures and aggregated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Trends in Massachusetts' PCE can inform state-level fiscal and monetary policy decisions, as well as guide investment and business strategies.
Q: Are there update delays or limitations?
A: The PCE data for Massachusetts is released 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, Per Capita Personal Consumption Expenditures: Total for Massachusetts (MAPCEPC), retrieved from FRED.