Per Capita Personal Consumption Expenditures: Goods for Massachusetts
MAPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,556.00
Year-over-Year Change
51.88%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures: Goods for Massachusetts measures the average amount spent by Massachusetts residents on goods. This metric is vital for understanding consumer spending patterns 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
This series represents the per capita (per person) personal consumption expenditures on goods in Massachusetts. It is a key indicator of consumer demand and a component of the overall personal consumption expenditures statistic, which is a major driver of economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers closely monitor this trend to assess the strength of the Massachusetts economy.
Key Facts
- Massachusetts per capita spending on goods was $17,305 in 2021.
- Goods expenditures account for roughly 40% of total personal consumption in Massachusetts.
- Per capita consumption spending in Massachusetts has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Massachusetts residents on goods, including durable and nondurable items.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer demand and economic activity in Massachusetts, providing insights into the strength of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess consumer spending patterns and make informed decisions about economic policies in Massachusetts.
Q: Are there update delays or limitations?
A: This data is typically released on a quarterly basis, with a short delay to allow for data collection and processing.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for Massachusetts (MAPCEPCG), retrieved from FRED.