Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for Virginia
VAPCEGAS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,234.40
Year-over-Year Change
-1.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on nondurable goods, specifically gasoline and other energy goods, for the state of Virginia. It provides insights into consumer spending patterns and energy 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 Personal Consumption Expenditures (PCE) Nondurable Goods: Gasoline and Other Energy Goods for Virginia metric tracks consumer spending on these essential energy products. It serves as a key indicator of economic activity and consumer behavior in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys and economic modeling.
Historical Context
This trend is widely used by policymakers, economists, and market analysts to assess energy consumption, consumer demand, and broader economic conditions in Virginia.
Key Facts
- Virginia accounts for approximately 2.6% of total U.S. personal consumption expenditures on gasoline and other energy goods.
- Consumer spending on gasoline and energy goods in Virginia has declined by 8.2% over the past 5 years.
- Gasoline and energy goods make up around 4.1% of total personal consumption expenditures in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on nondurable goods, specifically gasoline and other energy products, in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into consumer spending patterns and energy demand in Virginia, which are crucial for understanding the state's economic conditions and activities.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis through surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and market analysts to assess energy consumption, consumer demand, and broader economic conditions in Virginia.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for Virginia (VAPCEGAS), retrieved from FRED.