Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Minnesota
MNPCERECGD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,514.50
Year-over-Year Change
84.59%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Minnesota measures consumer spending on durable recreational items and vehicles in the state.
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 trend tracks household expenditures on durable goods like RVs, boats, and other recreational vehicles in Minnesota. It's a key indicator of consumer demand and confidence in the state's economy.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and market analysts closely monitor this metric to assess consumer spending patterns and guide economic decisions.
Key Facts
- Minnesota's recreational goods and vehicles spending reached $12.3 billion in 2021.
- Durable goods account for over 25% of total personal consumption in Minnesota.
- Recreational vehicle sales in Minnesota grew by 8.2% year-over-year in Q4 2022.
FAQs
Q: What does this economic trend measure?
A: This metric tracks consumer spending on durable recreational goods and vehicles in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: It's an important indicator of consumer confidence and demand in Minnesota's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts monitor this metric to assess consumer spending patterns and guide economic decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-3 month delay.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Minnesota (MNPCERECGD), retrieved from FRED.