Per Capita Personal Consumption Expenditures: Total for Virginia
VAPCEPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,776.00
Year-over-Year Change
51.73%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Total for Virginia trend measures the average spending by Virginia residents on goods and services. It is a key indicator of economic well-being and consumer demand 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 represents the total personal consumption expenditures in Virginia divided by the state's population. It is used by economists and policymakers to analyze consumption patterns, gauge consumer confidence, and inform fiscal and monetary policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure and population figures.
Historical Context
This metric is closely monitored by the Federal Reserve and other institutions to assess the health of the Virginia economy.
Key Facts
- Virginia's per capita consumption expenditures reached a record high in 2021.
- Consumption grew faster in Virginia than the national average over the past decade.
- Services make up the largest component of personal consumption in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Virginia residents on goods and services, providing insight into consumer demand and economic activity in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers to assess the health of the Virginia economy and inform decisions around fiscal and monetary policy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure and population figures for the state of Virginia.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions monitor this metric to gauge consumer confidence and spending patterns in Virginia, which informs their policy decisions and economic forecasts.
Q: Are there update delays or limitations?
A: This data is released on a quarterly basis by the Bureau of Economic Analysis, with a typical 2-3 month delay between the end of the reference period and the publication of the estimates.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Total for Virginia (VAPCEPC), retrieved from FRED.