Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Illinois
ILPCEPCRECGD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,083.00
Year-over-Year Change
100.29%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable recreational goods and vehicles in Illinois. It provides insights into consumer spending patterns and the strength of the state's economy.
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: Recreational Goods and Vehicles for Illinois' metric tracks household spending on items like TVs, audio equipment, and new cars or trucks. This data helps analysts understand consumer confidence and discretionary income levels in the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of household spending.
Historical Context
This trend is closely monitored by policymakers and market analysts to assess the health of Illinois' consumer economy.
Key Facts
- Illinois per capita recreational goods spending was $2,890 in 2021.
- Recreational goods and vehicles comprise 22% of total durable goods expenditures in Illinois.
- This metric has grown at an average annual rate of 3.2% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on durable recreational goods and vehicles, such as TVs, audio equipment, and new cars or trucks, in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer confidence and discretionary income levels in Illinois, which are key indicators of the state's economic health.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of household spending.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and market analysts to assess the strength of Illinois' consumer economy and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Illinois (ILPCEPCRECGD), retrieved from FRED.