Monthly State Retail Sales: Sporting Good, Hobby, Musical Instrument and Book Stores in Rhode Island
MSRSRI451 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-5.20
Year-over-Year Change
-49.51%
Date Range
1/1/2019 - 4/1/2025
Summary
The Monthly State Retail Sales: Sporting Good, Hobby, Musical Instrument and Book Stores in Rhode Island measures consumer spending at these types of retail establishments in the state. It provides insight into the health of the local economy and consumer behavior.
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 economic trend represents sales and transactions at sporting goods, hobby, musical instrument, and book stores located in Rhode Island. It is used by economists and policymakers to analyze consumer demand, gauge business performance, and inform decisions around fiscal and monetary policy.
Methodology
The data is collected through surveys of retail establishments in Rhode Island and aggregated by the U.S. Census Bureau.
Historical Context
Trends in this data can signal changing consumer preferences and discretionary spending patterns, which are relevant for businesses, investors, and economic policymakers.
Key Facts
- Retail sales in this sector account for about 2% of total retail activity in Rhode Island.
- Sales peaked in December 2021 at $57 million.
- Rhode Island's retail sales in this category have grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly retail sales and transactions at sporting goods, hobby, musical instrument, and book stores located in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending patterns and demand for discretionary retail goods, which is important for understanding the health of the local economy in Rhode Island.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments in Rhode Island and aggregated by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Trends in this data can signal changing consumer preferences and discretionary spending, which are relevant for businesses, investors, and economic policymakers in Rhode Island.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a 1-2 month lag. There may be sampling and coverage limitations for smaller retail establishments.
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Citation
U.S. Federal Reserve, Monthly State Retail Sales: Sporting Good, Hobby, Musical Instrument and Book Stores in Rhode Island (MSRSRI451), retrieved from FRED.