Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for South Dakota
SDPCECLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,245.10
Year-over-Year Change
67.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the personal consumption expenditures on nondurable goods, specifically clothing and footwear, in the state of South Dakota. It provides insights into consumer spending patterns and the retail sector 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 Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for South Dakota series represents the total dollar value of consumer purchases of clothing and footwear items within the state. It is a key indicator of consumer demand and spending in the retail industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and retail sales reports.
Historical Context
This trend is used by economists, policymakers, and businesses to assess the health of the South Dakota economy and consumer market.
Key Facts
- South Dakota's clothing and footwear expenditures account for a significant portion of its overall consumer spending.
- Trends in this data can indicate changes in consumer confidence and discretionary income within the state.
- The data is released on a monthly basis, providing timely insights into the state's retail sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total personal consumption expenditures on nondurable goods, specifically clothing and footwear, in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the health of the retail sector in South Dakota, which is valuable information for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a variety of sources, including surveys and retail sales reports.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to assess the health of the South Dakota economy and consumer market, which can inform economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, providing timely insights into the state's retail sector.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for South Dakota (SDPCECLTH), retrieved from FRED.