Per Capita Personal Consumption Expenditures: Total for South Carolina
SCPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49,252.00
Year-over-Year Change
60.26%
Date Range
1/1/1997 - 1/1/2023
Summary
Per Capita Personal Consumption Expenditures: Total for South Carolina measures the average spending by residents in the state on goods and services. It is a key indicator of consumer demand and economic well-being.
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 measure represents the total personal consumption expenditures by residents of South Carolina divided by the state's total population. It provides insight into consumer behavior and the overall standard of living within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and other economic indicators.
Historical Context
Policymakers and analysts use this metric to gauge consumer confidence and make informed decisions about fiscal and monetary policies.
Key Facts
- South Carolina's per capita personal consumption expenditures were $42,686 in 2021.
- Consumption spending accounts for over 60% of South Carolina's gross domestic product.
- The state's per capita consumption has grown by 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average spending by residents of South Carolina on goods and services, providing insight into consumer demand and economic well-being in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator is widely used by policymakers, economists, and market analysts to gauge consumer confidence and make informed decisions about fiscal, monetary, and economic policies.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects the data and calculates the per capita personal consumption expenditures for South Carolina using household surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of consumer demand and make informed decisions about fiscal, monetary, and economic policies that may impact the standard of living and economic growth in South Carolina.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately three months. There may be revisions to historical data as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for South Carolina (SCPCEPC), retrieved from FRED.