Personal Consumption Expenditures: Goods: Durable Goods for Hawaii
HIPCEDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,256.70
Year-over-Year Change
87.30%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods: Durable Goods for Hawaii trend measures household spending on long-lasting consumer goods in the state. It serves as an important indicator of economic activity and consumer confidence.
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
This data series tracks the value of durable goods purchased by Hawaii residents, including items like motor vehicles, furniture, and household appliances. Economists use this metric to assess consumer demand and gauge the overall health of the local economy.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this trend to inform decisions around fiscal and monetary policy.
Key Facts
- Hawaii residents spent $9.5 billion on durable goods in 2021.
- Durable goods account for over 30% of total personal consumption in Hawaii.
- Durable goods spending declined by 7.2% in Hawaii during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The HIPCEDURG series tracks the value of durable goods purchased by consumers in Hawaii, including items like motor vehicles, furniture, and household appliances.
Q: Why is this trend relevant for users or analysts?
A: Durable goods spending is an important indicator of consumer confidence and economic activity in Hawaii. Monitoring this trend helps policymakers and analysts assess the state's economic health.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor the HIPCEDURG trend to inform decisions around fiscal and monetary policy, as well as to gauge the overall strength of consumer demand in Hawaii.
Q: Are there update delays or limitations?
A: The HIPCEDURG data is published on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods for Hawaii (HIPCEDURG), retrieved from FRED.