Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Massachusetts
MAPCEPCRECGD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,242.00
Year-over-Year Change
71.41%
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 Massachusetts. It provides insights into consumer demand for discretionary purchases.
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 Massachusetts metric tracks consumer spending on items like TVs, computers, sporting equipment, and motor vehicles. This data is used to analyze household spending patterns and gauge the health of the state's economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts monitor this trend to assess consumer confidence and the impact of economic conditions on discretionary purchases.
Key Facts
- Massachusetts per capita spending on recreational goods and vehicles was $3,215 in 2021.
- This trend has shown steady growth over the past decade, indicating increasing consumer demand.
- Durable recreational goods account for around 20% of total personal consumption in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on durable recreational goods and vehicles in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand for discretionary purchases, which is an important indicator of economic health and consumer confidence.
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: Policymakers and analysts monitor this trend to assess consumer confidence and the impact of economic conditions on discretionary purchases.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Massachusetts (MAPCEPCRECGD), retrieved from FRED.