Personal Consumption Expenditures: Total for South Dakota
SDPCE • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
47,926.80
Year-over-Year Change
77.77%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures (PCE) for South Dakota measures household spending on goods and services in the state. It serves as a key indicator of economic activity and consumer demand.
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 PCE for South Dakota represents the total monetary value of all goods and services purchased by consumers within the state. It is a crucial metric used by economists and policymakers to gauge the overall health and trends in the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic indicators.
Historical Context
This metric helps inform decisions around fiscal and monetary policy at the state and national level.
Key Facts
- PCE accounts for over two-thirds of total U.S. economic activity.
- South Dakota's PCE reached a record high of $49.3 billion in 2021.
- Consumer spending in South Dakota grew by 4.7% in 2021.
FAQs
Q: What does this economic trend measure?
A: The Personal Consumption Expenditures (PCE) for South Dakota measures the total value of all goods and services purchased by consumers within the state.
Q: Why is this trend relevant for users or analysts?
A: PCE is a key indicator of economic activity and consumer demand, which is crucial for understanding the overall health of South Dakota'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 based on surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: This metric helps inform decisions around fiscal and monetary policy at the state and national level, as it provides insights into consumer spending patterns and economic trends.
Q: Are there update delays or limitations?
A: The PCE data for South Dakota is typically released on a quarterly basis, with some potential for slight delays in publication.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Total for South Dakota (SDPCE), retrieved from FRED.