Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Maryland
MDPCEPCFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,832.00
Year-over-Year Change
43.57%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures per capita personal consumption expenditures on nondurable goods for food and beverages purchased for off-premises consumption in the state of Maryland. It provides insights into consumer spending patterns and household purchasing power.
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: Food and Beverages Purchased for Off-Premises Consumption for Maryland series tracks the average consumer spending on grocery and dining items in the state. This metric is used to analyze consumer behavior, household budgets, and overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and economic indicators.
Historical Context
This trend is important for policymakers, businesses, and analysts to understand the state of consumer demand and the broader economic climate in Maryland.
Key Facts
- Maryland per capita food and beverage spending reached $5,201 in 2021.
- This trend has increased by 16% over the past 5 years.
- Food and beverage purchases make up 18% of total personal consumption in Maryland.
FAQs
Q: What does this economic trend measure?
A: This trend measures average per capita spending on nondurable goods for food and beverages purchased for off-premises consumption in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior, household budgets, and the overall economic climate in Maryland, which is useful for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and economic indicators.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, businesses, and analysts to understand consumer demand and the broader economic conditions in Maryland, which can inform economic policies and business strategies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, and there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for Maryland (MDPCEPCFOOD), retrieved from FRED.