Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Louisiana
LAPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,633.00
Year-over-Year Change
85.42%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the per capita personal consumption expenditures on durable goods, specifically motor vehicles and parts, in the state of Louisiana. It provides insights into consumer spending patterns and the state's economic activity.
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: Motor Vehicles and Parts for Louisiana is an economic indicator that tracks the average spending on motor vehicles and related parts by Louisiana residents. It is used to analyze consumer demand, household finances, and the health of the state's automotive industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and other economic indicators.
Historical Context
This trend is relevant for policymakers, economists, and businesses to understand consumer behavior and the state's economic conditions.
Key Facts
- Louisiana's per capita motor vehicle and parts spending was $3,512 in 2021.
- Motor vehicle and parts spending accounts for approximately 15% of Louisiana's total personal consumption expenditures.
- The trend has shown steady growth over the past decade, reflecting the state's economic recovery and consumer confidence.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per capita spending by Louisiana residents on durable goods, specifically motor vehicles and related parts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand, household finances, and the health of Louisiana's automotive industry, which are important for policymakers, economists, and businesses to understand the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using household surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to analyze consumer behavior, assess the state's economic performance, and inform decisions related to the automotive industry and consumer spending in Louisiana.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, and there may be some delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Louisiana (LAPCEPCVEH), retrieved from FRED.