Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Minnesota
MNPCEPCRECGD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,704.00
Year-over-Year Change
72.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Minnesota' trend measures consumer spending on durable recreational goods and vehicles in Minnesota.
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 economic indicator provides insights into consumer demand and spending patterns for a specific category of durable goods in the state of Minnesota. It is used by economists and policymakers to analyze consumer behavior and make informed decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is relevant for understanding the state of the Minnesota economy and consumer markets.
Key Facts
- Minnesota's per capita recreational goods and vehicles spending was $4,324 in 2021.
- Durable goods account for approximately 20% of total personal consumption expenditures in Minnesota.
- Consumer spending on recreational goods and vehicles has increased by 8% in Minnesota over the past 5 years.
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 Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and spending patterns for a key category of durable goods, which is useful for economists and policymakers analyzing the Minnesota economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to understand consumer behavior and spending patterns in Minnesota, which can inform economic policies and decisions.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Minnesota (MNPCEPCRECGD), retrieved from FRED.