Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for North Dakota
NDPCEPCGONPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,499.00
Year-over-Year Change
82.45%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on services provided by nonprofit institutions serving households in North Dakota. It is a key indicator of consumer spending and economic activity 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
The Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for North Dakota series tracks household consumption of nonprofit services. It is used to analyze trends in consumer demand and the economic health of the nonprofit sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This metric provides insight into the consumer economy and is relevant for policymakers, economists, and market analysts assessing North Dakota's economic conditions.
Key Facts
- North Dakota's per capita spending on nonprofit services was $2,837 in 2021.
- Nonprofit institutions serving households account for over 5% of North Dakota's gross domestic product.
- This metric has increased by an average of 3.2% annually over the past decade in North Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on services provided by nonprofit institutions serving households in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and spending patterns within North Dakota's nonprofit sector, which is an important component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this metric to assess the health of North Dakota's consumer economy and nonprofit sector, which can inform economic development strategies and public spending decisions.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately three months, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for North Dakota (NDPCEPCGONPI), retrieved from FRED.