Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Delaware
DEPCEVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,396.80
Year-over-Year Change
68.04%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures consumer spending on durable goods, specifically motor vehicles and parts, in the state of Delaware. It is an important indicator of consumer demand and economic activity in 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 Personal Consumption Expenditures (PCE) Goods: Durable Goods: Motor Vehicles and Parts for Delaware series tracks the value of consumer purchases of durable goods related to motor vehicles and parts within the state. This data provides insights into consumer behavior and the health of the automotive industry in Delaware.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic models.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess the strength of the Delaware economy and make informed decisions.
Key Facts
- Delaware's PCE on motor vehicles and parts reached a high of $2.9 billion in 2021.
- Motor vehicle and parts spending accounts for over 20% of total durable goods expenditures in Delaware.
- The COVID-19 pandemic caused a 17% drop in Delaware's motor vehicle and parts spending in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on durable goods related to motor vehicles and parts within the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and the health of the automotive industry in Delaware, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using surveys and economic models.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to assess the strength of the Delaware economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Delaware (DEPCEVEH), retrieved from FRED.