Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for North Dakota
NDPCECLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,175.30
Year-over-Year Change
41.81%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures consumer spending on clothing and footwear in North Dakota. It provides insight into the health of the state's retail sector 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
Personal Consumption Expenditures (PCE) is a key economic indicator that tracks the value of goods and services purchased by U.S. consumers. The Nondurable Goods: Clothing and Footwear category specifically measures household spending on apparel and related items in North Dakota.
Methodology
The data is collected through surveys of businesses and consumers by the U.S. Bureau of Economic Analysis.
Historical Context
Analysts and policymakers monitor this trend to assess North Dakota's economic conditions and consumer confidence.
Key Facts
- Clothing and footwear make up around 5% of total consumer spending in North Dakota.
- Spending in this category tends to be cyclical, reflecting changes in consumer confidence.
- North Dakota's clothing and footwear expenditures have grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on clothing, footwear, and related nondurable goods in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: Monitoring North Dakota's clothing and footwear expenditures provides insights into the health of the state's retail sector and overall consumer demand.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and consumers by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this trend to assess North Dakota's economic conditions and consumer confidence, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a 1-2 month lag in the most recent figures.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for North Dakota (NDPCECLTH), retrieved from FRED.