Per Capita Personal Consumption Expenditures: Goods for South Dakota
SDPCEPCG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,603.00
Year-over-Year Change
48.87%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods for South Dakota' measures the average spending on goods by residents of South Dakota. It is a key indicator of consumer demand and economic health 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 series tracks the average dollar amount spent on consumer goods per person in South Dakota. It is a component of the broader personal consumption expenditures metric and provides insights into South Dakotans' purchasing behaviors and preferences.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and retail sales reports.
Historical Context
Policymakers and economists analyze this trend to gauge consumer sentiment and spending patterns in South Dakota, which can inform fiscal and monetary policy decisions.
Key Facts
- South Dakota residents spent an average of $13,892 on goods in 2021.
- Goods consumption accounts for over 60% of total personal consumption in South Dakota.
- Per capita goods spending in South Dakota has grown by 4.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent on consumer goods per person in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and spending patterns in South Dakota, which is crucial for policymakers and businesses to understand economic conditions in the state.
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 household surveys and retail sales reports.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this trend to gauge consumer sentiment and spending behaviors in South Dakota, which can inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods for South Dakota (SDPCEPCG), retrieved from FRED.