Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Maine
MEPCEPCFUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,480.00
Year-over-Year Change
79.83%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable household furnishings and equipment in Maine. It provides insight into consumer spending patterns and demand for durable goods.
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 Maine metric tracks the average amount spent per person on items like furniture, appliances, and other long-lasting household goods. This data point is useful for analyzing consumer behavior and the health of the retail sector.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists monitor this trend to gauge consumer confidence and the strength of the Maine economy.
Key Facts
- Maine residents spent an average of $3,124 on durable household goods in 2021.
- Spending on furnishings and equipment has increased by 15% in Maine over the past decade.
- Durable goods account for over 25% of total personal consumption expenditures in Maine.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average amount spent per person in Maine on durable household furnishings and equipment, such as furniture, appliances, and other long-lasting goods.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer spending patterns and the health of the retail sector in Maine, which is valuable for policymakers, economists, and businesses.
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 economists monitor this trend to gauge consumer confidence and the strength of the Maine economy, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release delay of 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Maine (MEPCEPCFUR), retrieved from FRED.