Per Capita Personal Consumption Expenditures: Goods for Maryland
MDPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,482.00
Year-over-Year Change
45.25%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures: Goods for Maryland measures inflation-adjusted consumer spending on goods by Maryland residents. It's a key indicator of economic conditions and consumer confidence 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 metric tracks the total inflation-adjusted spending on goods by Maryland residents, divided by the state's population. It provides insight into consumer behavior and purchasing power, which are vital for assessing economic growth and making policy decisions.
Methodology
The data is calculated based on personal consumption expenditure figures from the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to evaluate Maryland's economic performance and consumer health relative to national trends.
Key Facts
- Maryland's per capita goods spending was $12,345 in 2021.
- Goods consumption accounts for about 40% of total personal consumption in Maryland.
- Per capita goods spending in Maryland has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total inflation-adjusted spending on goods by Maryland residents, divided by the state's population.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into consumer behavior and purchasing power, which are vital for assessing economic growth and making policy decisions in Maryland.
Q: How is this data collected or calculated?
A: The data is calculated based on personal consumption expenditure figures from the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Maryland's economic performance and consumer health relative to national trends.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for Maryland (MDPCEPCG), retrieved from FRED.