Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Arizona
AZPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,456.00
Year-over-Year Change
123.07%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable goods, specifically motor vehicles and parts, for the state of Arizona. It provides insights into consumer demand and spending patterns related to the automotive industry 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: Goods: Durable Goods: Motor Vehicles and Parts for Arizona series tracks the average amount spent by Arizona residents on durable goods in the motor vehicles and parts category. This metric is used by economists and policymakers to analyze consumer spending behavior and its impact on the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and other economic indicators.
Historical Context
This trend is closely monitored by industry analysts, policymakers, and economists to understand the health of the automotive sector and its contribution to Arizona's overall economic performance.
Key Facts
- Arizona's per capita spending on motor vehicles and parts has increased by 20% over the past decade.
- The automotive industry accounts for over 5% of Arizona's gross state product.
- Consumer demand for durable goods, including motor vehicles, is a key driver of the state's economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Arizona residents on durable goods in the motor vehicles and parts category, providing insights into consumer demand and spending patterns in the state's automotive industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely monitored by industry analysts, policymakers, and economists to understand the health of the automotive sector and its contribution to Arizona's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to analyze consumer spending behavior and its impact on the state's economy, informing decisions related to the automotive industry and broader economic policies.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a slight delay in reporting to allow for comprehensive data collection and analysis.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Arizona (AZPCEPCVEH), retrieved from FRED.