Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Hawaii
HIPCEVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,625.10
Year-over-Year Change
99.46%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Hawaii' series measures household spending on motor vehicles and parts in Hawaii. This metric is a key 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
This series tracks inflation-adjusted consumer spending on durable goods like motor vehicles and related parts in Hawaii. It is a component of the broader personal consumption expenditures (PCE) statistic, which is the primary measure of consumer spending in the U.S. economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely watched by policymakers and economists to assess the health of the Hawaiian economy.
Key Facts
- Motor vehicle spending accounts for over 50% of durable goods consumption in Hawaii.
- This metric has shown steady growth over the past decade, reflecting the state's economic expansion.
- Fluctuations in motor vehicle spending are closely tied to changes in consumer confidence and income in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This series measures household spending on motor vehicles and parts in the state of Hawaii. It is a component of the broader personal consumption expenditures (PCE) statistic.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer demand and economic activity in Hawaii, making it closely watched by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Fluctuations in motor vehicle spending in Hawaii are closely tied to changes in consumer confidence and income, providing valuable insights for policymakers and economists.
Q: Are there update delays or limitations?
A: This data is published regularly by the U.S. Federal Reserve, but may be subject to revisions and delays in reporting.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Hawaii (HIPCEVEH), retrieved from FRED.