Per Capita Personal Consumption Expenditures: Total for North Dakota
NDPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,780.00
Year-over-Year Change
49.56%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures (PCE) for North Dakota measures the average spending on goods and services by residents of the state. This economic indicator provides insights into consumer demand and the overall health of the North Dakota economy.
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
Per Capita PCE represents the total personal consumption expenditures divided by the state's population. It is a key metric used by economists and policymakers to analyze trends in consumer behavior and gauge the standard of living within North Dakota.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Per Capita PCE is an important input for assessing fiscal and monetary policy decisions that impact consumer spending and economic growth in North Dakota.
Key Facts
- North Dakota's Per Capita PCE was $54,373 in 2021.
- PCE accounts for over two-thirds of U.S. economic activity.
- North Dakota's Per Capita PCE has grown by 24% since 2011.
FAQs
Q: What does this economic trend measure?
A: Per Capita Personal Consumption Expenditures (PCE) for North Dakota measures the average spending on goods and services by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: Per Capita PCE is a key indicator of consumer demand and the overall standard of living in North Dakota, providing insights that are crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Per Capita PCE is an important input for assessing fiscal and monetary policy decisions that impact consumer spending and economic growth in North Dakota.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for North Dakota (NDPCEPC), retrieved from FRED.