Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for West Virginia
WVPCEPCGONPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,600.00
Year-over-Year Change
76.43%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the per capita personal consumption expenditures on services provided by nonprofit institutions serving households in West Virginia. It offers insights into the economic activity and consumer behavior within 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
The Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for West Virginia metric tracks the consumption of services by households through nonprofit organizations in the state. This data point is useful for analyzing the role of the nonprofit sector in the local economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and national income and product accounts.
Historical Context
Policymakers and economists use this trend to assess the health and dynamics of the nonprofit services sector in West Virginia.
Key Facts
- West Virginia has a population of approximately 1.79 million as of 2022.
- The nonprofit sector accounts for 5.4% of West Virginia's GDP.
- Per capita personal consumption expenditures on nonprofit services in West Virginia totaled $2,314 in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per capita personal consumption expenditures on services provided by nonprofit institutions serving households in West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data offers insights into the economic activity and consumer behavior within the nonprofit services sector in West Virginia, which is useful for policymakers and economists analyzing the local economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and national income and product accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and dynamics of the nonprofit services sector in West Virginia, which is an important part of the state's economy.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Economic Analysis, but there may be some delays in publication.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households: Gross Output of Nonprofit Institutions for West Virginia (WVPCEPCGONPI), retrieved from FRED.