Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Wisconsin
WIPCEPCCLTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,291.00
Year-over-Year Change
45.55%
Date Range
1/1/1997 - 1/1/2023
Summary
The Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Wisconsin measures the average spending on clothing and footwear by Wisconsin residents. This metric provides insight into consumer demand and the state's economic conditions.
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 average per capita spending on nondurable goods such as clothing and footwear by Wisconsin residents. It is a key indicator of consumer behavior and purchasing power in the state, which has implications for retail and textile industries.
Methodology
The data is collected through surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to understand consumer trends and the overall economic health of Wisconsin.
Key Facts
- Wisconsin residents spent an average of $2,500 on clothing and footwear in 2021.
- Clothing and footwear expenditures make up about 5% of total personal consumption in Wisconsin.
- Nondurable goods spending tends to be more sensitive to economic conditions than durable goods.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per capita spending on nondurable goods like clothing and footwear by residents of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and purchasing power in Wisconsin, which has implications for the state's retail and textile industries.
Q: How is this data collected or calculated?
A: The data is collected through surveys and compiled 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 understand consumer trends and the overall economic health of Wisconsin.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Nondurable Goods: Clothing and Footwear for Wisconsin (WIPCEPCCLTH), retrieved from FRED.