Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Wisconsin
WIPCECLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,633.50
Year-over-Year Change
50.62%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Wisconsin tracks consumer spending on apparel and footwear in the state. It is a key indicator of economic health and consumer confidence.
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 measures the total dollar value of personal consumption expenditures for nondurable goods related to clothing and footwear in Wisconsin. It is a component of the broader personal consumption expenditures data, which is a primary indicator of economic growth.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this data to understand consumer spending patterns and their impact on the broader Wisconsin economy.
Key Facts
- Clothing and footwear account for around 3% of total personal consumption expenditures in Wisconsin.
- Consumer spending on apparel and shoes tends to be cyclical, reflecting changing fashion trends and economic conditions.
- The data is released monthly with a 1-2 month lag.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total dollar value of personal consumption expenditures for nondurable goods related to clothing and footwear in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending patterns and behavior, which is a key indicator of economic health and consumer confidence in Wisconsin.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand consumer spending patterns and their impact on the broader Wisconsin economy, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is released monthly with a 1-2 month lag, so it may not reflect the most current economic conditions.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Wisconsin (WIPCECLTH), retrieved from FRED.