Per Capita Personal Consumption Expenditures: Goods for Rhode Island
RIPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,455.00
Year-over-Year Change
63.73%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on goods in Rhode Island. It provides insight into consumer spending patterns and is a key indicator of 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
Per capita personal consumption expenditures on goods is a measure of the total value of goods purchased by Rhode Island residents divided by the state's population. It reflects consumer demand and can help economists and policymakers assess the overall health of the state's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and other sources.
Historical Context
This metric is widely used to monitor consumer spending, which is a major driver of economic growth.
Key Facts
- Rhode Island's per capita consumption of goods was $16,425 in 2021.
- Goods consumption accounts for about 60% of total personal consumption expenditures in Rhode Island.
- Per capita consumption of goods has grown by an average of 2.5% annually in Rhode Island over the past 10 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per capita personal consumption expenditures on goods by residents of Rhode Island. It captures the total value of goods purchased divided by the state's population.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and spending patterns in Rhode Island, which is a key driver of the state's economic activity. It is closely monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and other sources.
Q: How is this trend used in economic policy?
A: This metric is widely used to assess consumer spending and overall economic health in Rhode Island. It informs policy decisions by state and local governments as well as market analysis by economists and investors.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a lag of several months. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for Rhode Island (RIPCEPCG), retrieved from FRED.