Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Minnesota
MNPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,257.00
Year-over-Year Change
72.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable goods in Minnesota. It provides insights into consumer spending patterns and the state's economic health.
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 for Minnesota series tracks the average amount spent by Minnesota residents on long-lasting consumer products, such as vehicles and appliances. This metric is a key indicator of consumer confidence and economic activity within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and economic reports.
Historical Context
Economists and policymakers monitor this trend to assess Minnesota's economic performance and make informed decisions about fiscal and monetary policies.
Key Facts
- Minnesota's per capita durable goods spending was $7,700 in 2021.
- Durable goods account for approximately 25% of total personal consumption in Minnesota.
- Durable goods expenditures are a leading indicator of economic growth in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Minnesota residents on long-lasting consumer products, such as vehicles, appliances, and furniture.
Q: Why is this trend relevant for users or analysts?
A: Monitoring per capita durable goods spending in Minnesota provides insights into consumer confidence and the overall economic health of the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and economic reports.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess Minnesota's economic performance and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Minnesota (MNPCEPCDURG), retrieved from FRED.