Personal Consumption Expenditures: Goods: Durable Goods for Maine
MEPCEDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,788.70
Year-over-Year Change
88.09%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods: Durable Goods for Maine measure consumer spending on durable goods in the state of Maine. This economic indicator provides insights into the strength of consumer demand and the health of the local 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
This series tracks personal consumption expenditures on durable goods, which are long-lasting products like automobiles, appliances, and furniture, for the state of Maine. It is an important metric for economists and policymakers to understand consumer behavior and the economic conditions in the region.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of consumer spending.
Historical Context
This trend is used by economists, policymakers, and businesses to assess the state of the Maine economy and consumer confidence.
Key Facts
- Maine's durable goods expenditures account for about 4% of total U.S. durable goods spending.
- Durable goods spending in Maine has grown by an average of 2.5% annually over the past decade.
- The COVID-19 pandemic led to a sharp decline in Maine's durable goods expenditures in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on durable goods, such as automobiles, appliances, and furniture, in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and the overall health of the Maine economy, which is important for economists, policymakers, and businesses operating in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of consumer spending.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the state of consumer confidence and the broader economic conditions in Maine, which can inform policy decisions and business strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods for Maine (MEPCEDURG), retrieved from FRED.