Per Capita Personal Consumption Expenditures: Nondurable Goods for Rhode Island
RIPCEPCNDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,202.00
Year-over-Year Change
62.44%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Nondurable Goods for Rhode Island' metric tracks consumer spending on non-durable goods by Rhode Island residents. It's a key indicator of economic activity and consumer confidence 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
This data series measures the average per-person expenditures by Rhode Island residents on consumable, non-durable goods such as food, clothing, and fuel. It provides insights into household consumption patterns and is used to analyze trends in consumer demand and state-level economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and state population estimates.
Historical Context
Economists and policymakers monitor this metric to gauge the financial health and spending behaviors of Rhode Island consumers, which can inform economic and fiscal policy decisions.
Key Facts
- Rhode Island's per capita nondurable goods spending was $18,462 in 2021.
- Nondurable goods account for over 60% of total personal consumption in Rhode Island.
- Consumer spending on nondurable goods has grown by 3.2% annually in Rhode Island since 2010.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average per-person spending by Rhode Island residents on non-durable consumer goods, including food, clothing, fuel, and other consumable products.
Q: Why is this trend relevant for users or analysts?
A: Monitoring changes in nondurable goods consumption provides insights into consumer behavior and confidence, which are key indicators of the overall health of Rhode Island's economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects this data through personal consumption expenditure surveys and state population estimates.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this metric to gauge consumer demand, which can inform decisions around fiscal, monetary, and economic development policies in Rhode Island.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods for Rhode Island (RIPCEPCNDURG), retrieved from FRED.