Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for South Dakota
SDPCEFOOD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,327.60
Year-over-Year Change
55.31%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on food and beverages purchased for off-premises consumption in South Dakota. It provides insights into consumer spending patterns and the state's food retail industry.
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: Food and Beverages Purchased for Off-Premises Consumption for South Dakota series tracks consumer spending on food and drinks bought at grocery stores, convenience stores, and other retailers for consumption outside of restaurants and foodservice establishments.
Methodology
The data is collected through consumer surveys and retail sales reports by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by policymakers, businesses, and analysts to monitor consumer behavior and the performance of South Dakota's food retail sector.
Key Facts
- South Dakota's off-premises food and beverage spending reached $7.8 billion in 2021.
- This metric has grown by an average of 3.2% annually over the past decade.
- Grocery stores account for over 80% of off-premises food and drink purchases in the state.
FAQs
Q: What does this economic trend measure?
A: This metric tracks consumer spending on food and beverages purchased from retailers for consumption outside of restaurants in South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer behavior and the performance of South Dakota's food retail industry, which is important for businesses, policymakers, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected through consumer surveys and retail sales reports by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to monitor consumer spending patterns and the health of South Dakota's food retail sector, which can inform economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Food and Beverages Purchased for Off-Premises Consumption for South Dakota (SDPCEFOOD), retrieved from FRED.