Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Minnesota
MNPCEFUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,528.30
Year-over-Year Change
69.59%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on durable goods for furnishings and household equipment in Minnesota. It provides insights into consumer spending patterns and the state's durable goods sector.
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 Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Minnesota (MNPCEFUR) series tracks consumer spending on durable household items like furniture, appliances, and electronics within the state. This data is used by economists and policymakers to analyze consumer demand and the health of the durable goods industry.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is relevant for assessing economic conditions, consumer confidence, and the performance of Minnesota's retail and manufacturing sectors.
Key Facts
- Minnesota residents spent $12.8 billion on durable household goods in 2021.
- Durable goods account for 25% of total personal consumption expenditures in Minnesota.
- Furnishings and household equipment spending has grown 7.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on durable goods for furnishings and household equipment in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer demand and the performance of Minnesota's durable goods sector, which is important for assessing the state's economic conditions 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: This metric is used by economists and policymakers to analyze consumer spending patterns and the health of Minnesota's retail and manufacturing industries, which informs economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Minnesota (MNPCEFUR), retrieved from FRED.