Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Illinois
ILPCEPCFUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,451.00
Year-over-Year Change
88.69%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable goods for furnishings and household equipment in Illinois. It provides insights into consumer demand and spending patterns within 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 Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Illinois series tracks consumer spending on durable household items such as furniture, appliances, and other furnishings. This data is used by economists and policymakers to analyze consumer behavior and assess the overall strength of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on consumer surveys and retail sales information.
Historical Context
This trend is relevant for understanding Illinois' consumer markets and evaluating the impact of economic policies on household spending.
Key Facts
- Illinois residents spent an average of $1,500 per person on durable household goods in 2021.
- Durable goods make up about 20% of total personal consumption expenditures in Illinois.
- Household furnishings and equipment expenditures have grown by 3.2% annually in Illinois over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on durable goods for furnishings and household equipment in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer demand and spending patterns within Illinois, which is useful for economists, policymakers, and businesses to assess the strength of the state's 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 consumer surveys and retail sales information.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding Illinois' consumer markets and evaluating the impact of economic policies on household spending within the state.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Illinois (ILPCEPCFUR), retrieved from FRED.