Consumer Unit Characteristics: At Least One Vehicle Owned or Leased by Region: Residence in the Midwest Census Region
CXU980350LB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.00
Year-over-Year Change
2.25%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the percentage of consumer units in the Midwest census region that own or lease at least one vehicle. It provides insights into household transportation access and mobility patterns.
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 'Consumer Unit Characteristics: At Least One Vehicle Owned or Leased by Region: Residence in the Midwest Census Region' data series tracks the share of consumer units in the Midwest that have access to at least one vehicle. This metric is a key indicator of transportation infrastructure and household economic well-being.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
Policymakers and urban planners use this trend to understand regional differences in vehicle ownership and guide transportation infrastructure investments.
Key Facts
- The Midwest has the highest rate of vehicle ownership among U.S. census regions.
- Vehicle ownership enables greater mobility and access to economic opportunities.
- Transportation costs are a significant portion of household budgets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of consumer units, or households, in the Midwest census region that own or lease at least one vehicle.
Q: Why is this trend relevant for users or analysts?
A: Vehicle ownership is a key indicator of household transportation access and mobility, which has important implications for economic well-being and regional development.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: Policymakers and urban planners use this trend to understand regional differences in vehicle ownership and guide transportation infrastructure investments.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Consumer Unit Characteristics: At Least One Vehicle Owned or Leased by Region: Residence in the Midwest Census Region (CXU980350LB1103M), retrieved from FRED.