Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Delaware
DEPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,323.00
Year-over-Year Change
47.96%
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 Delaware. It provides insights into consumer demand and spending patterns in this key economic sector.
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 Delaware series tracks the average amount spent per person in the state on the purchase of automobiles, trucks, and related parts and equipment. This data is used by economists and policymakers to analyze consumer behavior and the health of the automotive industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
This trend is relevant for understanding consumer spending and its impact on the broader economy, as well as for informing policy decisions related to the automotive and transportation sectors.
Key Facts
- Delaware per capita spending on motor vehicles was $3,687 in 2021.
- This trend has grown by an average of 2.5% annually over the past decade.
- Motor vehicles account for over 50% of Delaware's total durable goods expenditures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Delaware on the purchase of automobiles, trucks, and related parts and equipment.
Q: Why is this trend relevant for users or analysts?
A: This data is used by economists and policymakers to analyze consumer behavior and the health of the automotive industry, which is a key sector of the economy.
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 surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding consumer spending and its impact on the broader economy, as well as for informing policy decisions related to the automotive and transportation sectors.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Delaware (DEPCEPCVEH), retrieved from FRED.